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Article: Offer made to buy Alexander Forbes; Consortium makes $1.11 billion bid for South African broker.(International News)(Alexander Forbes Group)(Brief article)
- Article from:
- Business Insurance
- Article date:
- October 23, 2006
- Author:
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sarah Veysey
JOHANNESBURG, South Africa-Alexander Forbes Group Ltd. announced that a consortium of private equity investors has made an offer to its board to buy the brokerage.
Alexander Forbes said last week it had received an approach from a consortium led by Actis Africa Fund 2, acting through Clean- sheets Investments (Proprietary) Ltd. The consortium had submitted a proposal to acquire the entire issued share capital of the Johannesburg, South Africa-based broker for 8.3 billion rand ($1.11 billion).
Alexander Forbes announced earlier this year that it was considering a possible sale of the company to private equity investors. And ...