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JSE ABSP ASA
ABSP AMAGB
ASA/ABSP - Absa Group Limited/Absa Bank Limited - Absa Announces The Potential
Acquisition Of A Controlling Interest In Namibia`s Capricorn Investment
Holdings
ABSA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/003934/06)
ISIN: ZAE000067237
JSE share code: ASA
Issuer code: AMAGB
(Absa or Absa Group)
ABSA BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1986/004794/06)
ISIN: ZAE000079810
JSE share code: ABSP
(Absa Bank)
ABSA ANNOUNCES THE POTENTIAL ACQUISITION OF A CONTROLLING INTEREST IN
NAMIBIA`S CAPRICORN INVESTMENT HOLDINGS
Absa has announced today that a non-binding agreement has been reached to
allow the Group to pursue the acquisition of a controlling interest in
Namibia`s Capricorn Investment Holdings Limited ("CIH") for an undisclosed
amount.
CIH is a financial services group whose businesses include most notably the
flagship brand Bank Windhoek, which is a leading Namibian bank with over R13
billion in assets.
The potential transaction will be subject to, inter alia, the following
conditions precedent:
- A due diligence investigation to Absa`s satisfaction;
- Confirmation of support from the majority of the shareholders of CIH;
- Final approval by all the required internal governance structures;
- All the necessary legal and regulatory approvals in South Africa and
Namibia; and
- No material adverse change prior to completion.
A further announcement will be made in due course.
This announcement is for information purposes only and is not required in
terms of the JSE Listings Requirements.
Johannesburg
19 February 2010
Enquiries:
Nwabisi Piki
Absa Investor Relations
Sponsor:
JP Morgan Equities Limited
About Capricorn Investment Holdings Limited
CIH is a Namibian investment holding company with interests in a number of
banking and related financial services businesses, including Bank Windhoek.
The bank offers a wide spectrum of retail, wholesale and international banking
products and services. Bank Windhoek serves its 200,000 plus customers
through its distribution network of 50 outlets, its electronic channels,
including Internet- and cell phone banking, and a network of 234 ATMs and Cash
Express machines throughout Namibia.
Date: 19/02/2010 12:00:02 Produced by the JSE SENS Department.
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