TIGER Brands is selling its 51% stake of its Ethiopian business to its joint-venture partner for an undisclosed amount, the fast-moving consumer goods group said on Thursday.

South African-based Mondi, also listed in London, has signed an agreement for the acquisition of 90% of the outstanding share capital in Kalenobel from ARGUS Capital, a CEE focused private equity group, and M. Olcay Hephiz, one of the company’s founders, for a consideration of around EUR90 million on a debt-and-cash-free basis (consideration for 90% of the business).

Udemy, a global marketplace for learning and teaching online, today announced a strategic investment of $60 million from Naspers through its Naspers Ventures division. Larry Illg, CEO of Naspers Ventures, is joining Udemy’s Board of Directors.

The market capitalisation of the former Bidvest Group shot up more than 14% after the listing of Bid Corporation (Bidcorp) on the JSE on Monday, releasing "new energy" in the group’s new food services business and in its mainly domestic industrial assets and Namibian operations.