Link moves out of South Africa

27 August 2019
| By Jassmyn |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 4 months ago
Kevin Gorman

Super director remuneration ...

1 year 4 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 4 months ago

Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion....

33 minutes 37 seconds ago

Both economists and money markets have scaled back expectations of a jumbo rate cut in May....

23 hours 23 minutes ago

Negative market movements, coupled with net outflows, have prompted a near $6 billion decline in Challenger’s funds under management (FUM) for FY2024–25’s third quarter....

23 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND