South African billionaire Jannie Moutons trust has put forward a 400 million offer to acquire Curro Holdings , paving the way for the countrys largest private school network to delist from the Johannesburg Stock Exchange and transition into a nonprofit organization.
Mouton, the founder of Capitec Bank and PSG Group, is making the offer through the Jannie Mouton Stigting, a Public Benefit Organization PBO he set up in 2004. Under the proposal, shareholders would receive R13 0.73 per sharepaid in a mix of cash, Capitec shares, and PSG Financial Services sharesthrough a scheme arrangement.
Curros shift to a nonprofit model