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Link moves out of South Africa
Link Group has agreed to sell its 74.85 per cent holding in Link Market Services South Africa (LMS South Africa) to the JSE Limited for $21.5 million.
Link Group managing director, John McMurtrie, said the Johannesburg Stock Exchange approached Link Group with a “compelling acquisition offer for LMS South Africa and having worked very closely with JSE since 2006, we believe they will be good custodians of this business. At the same time this represents a good result for Link Group’s shareholders”.
“Link Group will retain a strategic partnership with JSE, by supporting organisations that wish to dual list, as well as those requiring the value added services of Link Group,” he said.
“We are also pleased to confirm that under its new ownership, the business will remain a key member of the Global Share Alliance, which provides enhanced global registry and financial services to multi-national enterprises.”
Iqbal Haniff would remain chief executive of LMS South Africa.
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