Patrice Motsepe’s African Rainbow Capital widens
A prominent black shareholder and R1bn in the bank —what’s not to like about African Rainbow Capital’s Forbes foray?
30 January 2020 - 05:00
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...
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