Namibia-based Bank Windhoek Holdings has agreed to purchase the entire issued share capital of Capricorn Asset Management (CAM) for NAD128 million (US$11.67 million).
CAM is a licensed local and independent asset management company with NAD$10.4 billion under management as of 31 December 2013.
Go deeper with GlobalData
Capricorn Investment Holdings, Nam-mic Financial Services Holdings and the Bank Windhoek Holdings Group Employee Share Ownership Trust collectively hold 100% shareholding in the issued ordinary share capital of CAM.
Christo de Vries, managing director of Bank Windhoek, said: "The key motivations for the transaction are to drive synergies between the value offering in the Bank Windhoek Holdings Limited group and CAM, the diversification of Bank Windhoek Holding’s income streams, and growth potential."
Currently, CAM manages and administers 13 unit trust funds and a number of segregated portfolios, which amongst others include pension fund mandates.
The transaction is subject to certain conditions, including the performance of a due diligence investigation to the satisfaction of Bank Windhoek Holdings, approval from the Bank of Namibia as well as approval by the Namibia Financial Institutions Supervisory Authority (Namfisa).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
