New ownership structure for publishing company

2018-02-21 06:01

SHUTER and Shooter Publishers (Pty) Ltd, a proudly South African company and BBBEE Level II contributor, is pleased to announce a landmark transaction with Zungu Investments Company, an existing shareholder in the company.

The acquisition increases Zungu Investments’ equity stake in Shuters to just in excess of 95%. This translates into Shuters becoming one of the largest 100% black-owned educational publishers in South Africa.

The Craib family, who ran and owned the The Witness Group in KwaZulu-Natal, has been the majority shareholders of Shuters for many years. Stuart Craib, who represents the third generation of the Craib family, served as the company’s chairperson. In 2008, Zungu Investments acquired a 36,2% equity stake in Shuters.

Sandile Zungu, founder and executive chairperson of Zungu Investments, has been involved in a number of companies and is personally invested in education. He has identified education as a strategic pillar of the South African landscape and this acquisition realises a vision to increase his contribution to education. There is a wonderful synergy between this objective and that of Shuters — “Empowering the nation through education”. — Supplied.

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