Aldermore shareholders vote to accept FirstRand offer
Aldemore shareholders in London voted overwhelmingly to approve the FirstRand’s offer to acquire Aldermore. Some 99.97% of the votes cast were in favour of the offer. Johan Burger, Chief Executive Officer of FirstRand Ltd said: "I am very pleased that we have reached this important milestone in our offer for Aldermore. This transaction is one part of our strategy of diversifying revenues to create long term, sustainable shareholder value. The management team at Aldermore have built a very successful bank and it will be a valuable addition to our multi-branded portfolio of leading financial services franchises." Completion of the offer is, among other requirements, subject to approval by the regulatory authorities in both the United Kingdom and South Africa. Finalisation is expected in the first quarter of 2018. Aldermore, a little-known British retail and business bank, became something of a household name among local investors after it emerged that SA’s largest bank by market value...
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