AlexForbes to delist from JSE

JOHANNESBURG – South African financial services group Alexander Forbes will delist from the JSE Securities Exchange on July 27 after a court approved its 8,2 billion rand buyout by a private equity consortium, it said on Friday.

Alexander Forbes said in a statement the acquisition will become operative on July 26 and its listing on the Johannesburg bourse will be terminated on July 27. The consortium led by Britain’s Actis and including South African private equity group Ethos, Harbourvest Partners LLC and two Canadian investment funds, offered 17,26 rand per share.The offer was revised in May from 17,00 rand per share in price and to include a re-investment option.Alexander Forbes provides risk management and financial services including retirement fund administration, healthcare consulting and personal financial planning.Nampa-ReutersThe consortium led by Britain’s Actis and including South African private equity group Ethos, Harbourvest Partners LLC and two Canadian investment funds, offered 17,26 rand per share.The offer was revised in May from 17,00 rand per share in price and to include a re-investment option.Alexander Forbes provides risk management and financial services including retirement fund administration, healthcare consulting and personal financial planning.Nampa-Reuters