Standard Bank Group - ACQUISITION ANNOUNCEMENT
Standard Bank Group Limited
(Incorporated in the Republic of South Africa)
(Registration number 1969/017128/06)
Share code: SBK
Namibian share code: SNB
ISIN: ZAE000038873
("Standard Bank Group")
ACQUISITION ANNOUNCEMENT
Standard Corporate and Merchant Bank is authorized to announce that Standard
Bank Group, through its wholly-owned subsidiary Stanbic Africa Holdings Limited,
has agreed to acquire an additional 19,239,458 Banco Standard Totta de
Mocambique SARL ("BSTM") shares, representing a 55.29% shareholding in BSTM
("the transaction") from Banco Totta & Acores SA, a company incorporated in
Portugal, for a consideration of USD21.5 million (ZAR148 million at the current
exchange rate). Subsequent to the transaction, Standard Bank Group will have an
effective 95.98% shareholding in BSTM.
Financial information relating to BSTM is shown in the table below
USD `000 Metical `000
Year ended 31 December 2001 2002 2001 2002
Income after taxation 9,560 9,331 196,540,286 218,133,534
Net asset value 26,411 27,937 615,635,837 659,749,557
The transaction is subject to Standard Bank Group board approval and to the
necessary regulatory approvals from the relevant authorities in Mozambique,
Portugal and South Africa.
Johannesburg
7 October 2003
Merchant Bank and Sponsor
Standard Corporate and Merchant Bank
(A division of The Standard Bank of South Africa Limited)
(Registration number 1962/000738/06)
Date: 08/10/2003 07:28:05 AM Produced by the JSE SENS Department
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