BANCASSURANCE
Liberty shares rocket as Standard eyes full control
Critics say the bancassurance model did not work when it was tried in the past
15 July 2021 - 08:49
UPDATED 15 July 2021 - 22:57
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...
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.