Billionaire Johann Rupert’s Remgro to sell 25% stake in Paris-based Total Energies

BusinessTech Africa has learned that South African billionaire, Johann Rupert is set to sell his stake in the local unit of Total Energies.

Various media outlets indicate that Rupert is willing to sell his 25% stake in Total Energies through his investment vehicle, Remgro.

As per News24 and Bloomberg, sources privy to the developments said Remgro’s 25% holding in the arm of the Paris-based company, Total Energies, which owns refining operations and gasoline stations in South Africa, has a book value of R2.5 billion, according to a 2021 results statement.

“Remgro is reshuffling its portfolio, most recently buying out the part of hospital operator Mediclinic International it didn’t already own,” reports the Cape Town-based website.

“The shake-up also included the sale of Grindrod’s banking unit and the disposal of about a 30% stake in wine and spirits maker Distell Group Holdings to Heineken.”

While Remgro could not offer a right of reply in the matter and Total Energies failed to respond to the website’s request for more information, it is mentioned that the energy company, TotalEnergies owns a 36% stake in the Natref crude-oil refinery in South Africa.

The majority of the shares are in the hands of Sasol and the companies are planning to upgrade the plant to produce low-sulfur diesel.

The sale process of Total Energies shares is already underway with bids expected to be submitted within the coming weeks, said the informants.

Just last month, the publication posted that Mediclinic and a consortium led by its biggest shareholder, Remgro, have reached a final agreement on the terms of the takeover bid that has been on the cards since May.

They settled on the cash offer of 504 pence (R102) for each Mediclinic share minority shareholders hold, this was announced in July.

“Mediclinic shareholders will also receive the final dividend of 3 pence per share as declared on 25 May,” said News24.

“Remgro CEO, Jannie Durand, said that under the consortium’s care, Mediclinic will be well-positioned to execute its strategy and undertake the investments it requires to realise its full potential.”

Main Image: Total Energies/DreamsTime/Al-Monitor