Standard Bank plans to take full control of Liberty Holdings in an R11bn deal that will create a pan-African financial services conglomerate and double down on a business model some have ditched.

Under the cash and share deal unveiled on Thursday, Standard Bank — Africa’s largest bank by assets, which already owns 53.6% of the insurance group — has offered R89.96 per share. It is a 33% premium to Liberty’s close on Wednesday and values the group at R25.6bn...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now