ERA-ENDING DEAL
PSG mulls era-ending deal to spin off Capitec
Investors welcome the development as a step in the right direction in removing the large discount the holding company trades relative to its underlying investments
29 April 2020 - 08:58
UPDATED 29 April 2020 - 14:00
In what could be an era-ending deal, investment heavyweight PSG is considering unbundling all or a portion its R46bn stake in its fast-growing banking business Capitec.
The proposed spin-off, welcomed by investors, is part of PSG CEO Piet Mouton efforts to close a yawning discount between its market capitalisation and the sum of its parts which include businesses such as budget-friendly private education group Curro and asset management business PSG Konsult. ..
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