Springboks battle heats up

A group comprising four companies made a rival R6.7 billion bid to buy a stake in the commercial rights of South Africa’s Springboks, the reigning rugby-union world champions, Business Day reported. 

AltVest Capital, EasyEquities, 27four Investment Managers and RainFin expressed interest in buying as much as 40% of the rights through an entity called Saru Commercial Rights Company, the newspaper reported.

It cited a letter to the leaders of the South African Rugby Union, the sport’s governing body in the nation. 

The regional associations that run some of the country’s biggest local teams are due to vote Friday on Ackerley Sports Group LLC’s offer to buy a 20% stake in a newly created commercial rights company for $75 million.