Bulls confirmed that the deal was unanimously concluded on Thursday at a meeting held at Loftus Versfeld.
The new structure will mean that existing shareholders Remgro (JO: REMJ ) and the Blue Bulls Rugby Union (BBRU) reduce their previously equal percentage of shareholding from 50% each to 37% and 26% respectively, allowing Motsepe to buy in the remaining 37%.
“We put a lot of effort into making this possible over the last few months, and I am proud to say that all the union committee members unanimously voted in favour of the deal. I firmly believe that private investors will add immense value to our beautiful game going forward,” said President of the BBRU Willem Strauss.
“The benefits of this deal is not only to the BBCo at the professional level it will also make a positive impact on our amateur rugby, at schools, clubs and development levels. We are privileged and excited to have partners like Mr Motsepe in our corner.”
Alfons Meyer, CEO of the BBCo added: “This is a brilliant deal, not only for us at the BBCo, but also for our communities and the sports industry in general. I look forward to a host of synergies and opportunities that will be forged between us. With Mr Motsepe also owning soccer giants Mamelodi Sundowns, there is no doubt that a relationship like this will further enhance and entrench our vision to make Tshwane the sporting capital.”
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