JSE to Buy 74.85% of Link Mkt Services S. Africa for 224.5m Rand
JSE Ltd. to acquire 74.85% of Link Market Services South Africa from Link Australia subject to regulatory approvals.
* Link SA’s black economic empowerment partner will retain its existing 25.15% stake; Iqbal Haniff to remain as CEO of company;
* Consideration to be paid from JSE’s cash reserves and the acquisition is expected to contribute ~6% of group revenue;
* Transaction expected to close by end-Dec;
* NOTE: Link SA is the second-largest share register business in South Africa and has a client base that includes six of the top 40 issuers. Source: Bloomberg