Remgro to keep FirstRand stake in unbundling
Retaining the banking holding company is intended to provide additional balance sheet capacity
31 March 2020 - 08:54
Remgro, the listed investment holding company chaired by Johann Rupert, intends to proceed with unbundling its 28.2% interest in Rand Merchant Bank Holdings (RMH) to shareholders but will hold on to its stake in FirstRand.
Remgro said it will retain its 3.9% interest in FirstRand, “to provide additional balance sheet capacity to support growth in Remgro’s existing portfolio and its ability to pursue new opportunities that may arise”...
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