NOSA SOLD
MICROmega shares jump after sale of subsidiary
MICROmega’s share price jumped more than 13% on Friday to close at R11.20 after the investment holding group announced the sale of subsidiary Nosa for R750m to global asset manager The Carlyle Group. Nosa provides occupational health, safety and environmental risk management services and solutions. Occupational health was enjoying above GDP growth, especially in emerging markets, Carlyle’s Sub-Saharan Africa Fund MD Eric Kump said. Carlyle would tap into its global expertise to help Nosa grow its geographic footprint. "Right now we are excited about China, but we might as well start closer to home … sub-Saharan Africa is a natural point of expansion," Kump said. He said that the occupational health and safety sector was particularly attractive across emerging markets as adoption and compliance rates align with developed countries. Annually, Nosa educates and services more than 90,000 individual scholars and professionals, and more than 4,000 organisations to ensure a safe and compli...
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