Alexander Forbes’s largest shareholder, the multinational employee benefits business Mercer, was unlikely ever to be content with just a third of the company. But it was lucky to have a willing buyer in Patrice Motsepe’s African Rainbow Capital (ARC) Investments, which will snap up its 193-million Forbes shares for R1bn.

Abax Investments portfolio manager Wallie van der Walt says it is never welcome to see a large multinational such as Mercer disinvesting, but Forbes was small in its life and barely a rounding error in its accounts.

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 exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now