South African buyout firm, Capitau Holdings, has offered $393 million for a stake in media company, Avusa, Bloomberg reports. Capitau and FirstRand’s private equity unit, RMB Ventures, are offering $0.87 per share in cash for Avusa.

The deal offers shareholders of the media company the choice to stay invested. The two firms have commitments from shareholders representing 59% of Avusa to back the transaction, including Mvelaphanda Group.

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