Alexforbes set to buy insurance administration services company
Subject to approval, the cash deal will see Alexforbes buy a 60% stake in TSA Administration
05 May 2023 - 09:22
Financial services group Alexforbes has acquired a majority stake in local group risk insurance administration services company TSA Administration for an undisclosed amount.
The cash deal, subject to approval, will see the company, valued at R7.3b on the JSE, acquire a 60% stake in TSA Administration via its indirect wholly owned subsidiary Alexander Forbes Financial Services, with the option of obtaining the remaining 40% over the next five years, and will be financed by drawing down on its existing term loan facility...
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