Blackstar Launches $99M Takeover Of Mvela Group

Law360, New York (December 8, 2011, 2:37 PM EST) -- Blackstar Group SE, a Luxembourg-based investment company seeking to gain exposure to African business growth, has offered a total of £63.5 million ($99 million) to buy the shares of South Africa's black-owned Mvelaphanda Group Ltd. holding company, Blackstar said Thursday.

Blackstar said the shareholders of the targeted company, typically referred to as the Mvela Group, have the option of trading their shares for Blackstar stock or taking cash, up to the maximum consideration.

"The Blackstar board believes that Mvela Group's assets represent an attractive investment portfolio...
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