Corporate Raiders


Corporate Raiders

How Andrew Bonamour and his audacious mentor Julian Treger stripped nearly R300 million from the Blackstar coffers.

Andrew Bonamour, South Africa’s newest press baron and unlikely lord of iconic titles such as The Sunday Times, Business Day, Sowetan and Financial Mail, established an offshore company in the British Virgin Islands and paid himself more than £7.5m (then around R100m) in fees through a sweetheart deal with his own Blackstar group.

And Julian Treger, then a Blackstar director, and once the most feared corporate assassin in the City of London, received performance fees of £809,000 under the deal, for his interest in the offshore company. In all, Noseweek can reveal, the duo profited by as much as £21m (then around R295m) from Blackstar Managers (British Virgin Islands reg no 629747).

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Submitted by : beachcomber on 2017-10-17 16:57:03
An odious gang of opportunists who hopefully will get their just desserts in future...

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