Conduit Capital to acquire Legal Shield in reverse takeover
The acquisition of the Namibia-based insurer through issuing shares would make Conduit part of the Trustco group
27 March 2020 - 13:49
Investment holding company Conduit Capital is set to become part of Namibian financial services group Trustco, after agreeing to issue R10.4bn in shares to acquire that company’s subsidiary, Legal Shield Holdings (LSH).
The reverse takeover, which is subject to shareholder approval, would see Conduit issue some 21-billion shares at 50c each, which would make Trustco the group’s controlling shareholder...
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