A private equity consortium is in buyout talks with Alexander Forbes in a proposed multi-million pound deal.
In a statement to the Johannesburg Stock Exchange (JSE) it was revealed that the Actis Consortium has submitted a proposal to the board of directors at Alexander Forbes to acquire the broker. It requires funding of R8.3bn (£58m)
Funding will be raised through a combination of equity provided by the consortium, which includes private equity firms Ethos Private Equity and Harbourvest Partners LLC and two Canadian fund managers. The deal is also expected to be financed by other companies including Investec Bank Ltd and JP Morgan.
If the proposed offer is accepted Alexander Forbes will be delisted from the JSE, as well as the Namibia and Botswana stock exchanges.
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