RMB and Remgro announce landmark restructuring
19 November 2019 - 20:46
In a landmark deal that coincides with the final steps in the departure of FirstRand’s three founders, its parent company RMB Holdings said on Tuesday it would be distributing its R130bn shareholding in the banking group to shareholders.
Concurrently, Johann Rupert’s investment holding company Remgro also notified the market after trading closed that it intends to distribute its 28% stake in RMB Holdings to shareholders. RMB Holdings has a 34.1% stake in FirstRand. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.