South Africa's Ivan Saltzman Transfers Nearly 400 Million In Dis-chem Shares To Sons

Ivan Saltzman gifts 392.5 millionDis-Chem stake to sons Dan and Mark in a major family succession move.

Dis-Chem shares transferred via Ivlyn Local Holdings, reinforcing Saltzman family control in South Africas top pharmacy chain.

50 million executive retention plan unveiled to strengthen leadership amid Dis-Chems R39.2B revenue growth in 2024.

Ivan Saltzman, South African businessman and founder of Dis-Chem Pharmacies, has transferred a 25 percent stake in the pharmacy giant valued at nearly 400 million to his sons, Dan and Mark Saltzman. The move involves 217 million shares held via Ivlyn Local Investment Holdings, an investment vehicle controlled by the Saltzman family.

Dis-Chem shares traded at R32.03 1.80 per share during the time of drafting this report, valuing the company at R27.53 billion 1.55 billion. The 217 million shares gifted to the Saltzman sons are worth around R6.95 billion 392.5 million. Ivan Saltzman is restructuring his shareholding but keeping control firmly within the family, ensuring continued Saltzman family ownership of Dis-Chem.

Before this share transfer, Ivan and Lyn Saltzman held 252 million shares, or 29.31 percent of the company. Post-transaction, Dan and Mark Saltzman will each hold 12.62 percent. Neither son held shares prior to this deal. While Dan remains low-profile, Mark is a commercial lawyer and founder of Saltzman Attorneys Notaries.

The Saltzmans have gradually reduced their stake since 2021from over 50 percent to about 31 percentthrough strategic sales to public investors, senior executives, and black economic empowerment groups like Royal Bafokeng Holdings and Black Panther linked to Sandile Zungus Zico Investments.

In 2024, Ivlyn initiated a R885 million 50 million management retention scheme involving eight senior executives, with shares vesting over five years. Rui Morais, Dis-Chems CEO since July 2023, received close to half of the shares worth R408.5 million 23 million with the other seven getting R68 million 3.84 million worth of shares each, boosting leadership continuity.