Patrice Motsepe’s Holding Company To Acquire Controlling Stake In Alexander Forbes

This article was published on: 01/25/20 6:43 PM

Patrice Motsepe

South African billionaire Patrice Motsepe is about to become the new majority shareholder at Alexander Forbes, with plans to buy over R1bn of the pension fund administrator’s shares.

The billionaire’s investment holding company, African Rainbow Capital (ARC), will increase its shareholding in Alexander Forbes to 33.9% after Mercer Africa pulls out, the firm said in a joint statement on Wednesday.

As part of the proposed new shareholding agreement, ARC will acquire 193 million Alexander Forbes shares, or 15%, from Mercer at a price of 525 cents per share, amounting to 1,013 billion rand ($69.71 million).

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