Warren ThompsonBillionaire Patrice Motsepe’s investment holding company African Rainbow Capital will increase its stake in Alexander Forbes as the firm undertakes a major shareholder restructuring.
To facilitate this, ARC will acquire 193-million shares worth R1bn, which will increase the company’s stake to 28.6%. In a subsequent transaction, ARC will swap the existing shares it owns in Alexander Forbes for shares in the JSE-listed parent company. After implementation of the transactions, ARC will own 33.9% of the issued share capital of Alexander Forbes. Mercer will retain a stake of about 4.5%.
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