INM appoints Investec and Canaccord Genuity Hawkpoint to advise on South African business
INDEPENDENT News & Media (INM) has appointed Investec and Canaccord Genuity Hawkpoint as advisers as it explores options for its South African business.
The company confirmed today that the move followed "informal and unsolicited" expressions of interest in the operations at a time when INM is looking at ways to delever its balance sheet.
"No divestment decisions have been taken by the company," it said in a statement today.
Separately, INM said that Donal Buggy will leave the group in October to pursue other interests.
He will be replaced as group chief financial officer by Eamonn O’Kennedy.
Mr Kennedy joined INM in 1999 as group finance manager at the company’s head office.
In 2007, he was appointed finance director of the Group’s Irish operations and was appointed finance director of the Island of Ireland operations in 2011.
"I am grateful for the contribution Donal has made to INM over the course of many years," said group chief executive Vincent Crowley.
He leaves with our best wishes for the future. I welcome Eamonn into the role to which he brings a wealth of relevant experience."