All systems go

News from Competition Tribunal is that it has unconditionally approved the following mergers.

Prestasi Brokers and Thebe Risk Services

This transaction will take place in three steps. Firstly, Prestasi Brokers will acquire the assets and liabilities (excluding non-transferrable licences) of Thebe Risk Services.

Secondly, Pamodzi will acquire 100% of the shareholding in Thebe and Thebe Hoskens Admin Services. Thirdly, the equalisation of the black ownership structure between Pamodzi Investment Holdings and Thebe Investment Corporation will be effected. Each party is to hold 25% shareholding in Pamodzi Broker Holdings.

Old Mutual Healthcare and Kwacha

This merger consists of two parts. Old Mutual Healthcare intends to acquire 51% of the issued share capital of Sizwe Medical Services and 90% of the issued ordinary share capital of Cheiron Health Technologies from Kwacha.

Kwacha will then acquire 23,2% of the entire issued ordinary share capital of Old Mutual and by virtue of the minority protection contained in the shareholders' agreement, Kwacha will acquire joint control over Old Mutual Healthcare.