IA Bell to pay R10 a share for John Deere’s Bell Equipment
IA Bell, which controls the founding family’s wealth, has offered to acquire 31.41% of the earth-moving equipment supplier in a deal worth R300m
Bell Equipment’s largest shareholder will pay a 13% discount to raise its stake to about three-quarters, the company said, disclosing long-waited financial details of the deal between two top investors that has left at least two minorities worried.
In September 2020 IA Bell, a private company that invests the Bell family’s wealth, announced it wanted to buy 31.41% of Bell Equipment from John Deere, the US multinational which has held the stake for 23 years. This would take IA Bell’s total stake to 70.1%. ..