Caxton raises stake in Mpact to 26.2%

18th December 2020 By: Creamer Media Reporter

Media company Caxton and CTP Publishers and Printers has bought a further 30.49-million shares in paper and plastic packaging products manufacturer Mpact.

Caxton acquired the shares from clients of Allan Gray, Old Mutual Investment Group, Old Mutual Customised Solutions, Visio Capital Management and Ninety One for R469.87-million.

It notes that this investment is intended to provide the company with an enhanced return on its substantial cash resources.

Caxton now owns 43.13-million shares in Mpact, representing 26.2% of Mpact's issued share capital.