Investec Limited/ Investec plc - Sale of US operat
Investec Limited/ Investec plc - Sale of US operations
Investec Limited
(Incorporated in the Republic of South Africa)
(Registration number 1925/002833/06)
Share code: INL & ISIN code: ZAE000040531
(`Investec`)
Investec plc
(Incorporated in the United Kingdom)
(Registration number 3633621)
Share code: INP & ISIN code: GB0031773103
(`Investec` or `the group`)
SALE OF US OPERATIONS
Investec USA Holdings Corp., a subsidiary of Investec plc, has entered into a
stock purchase agreement to sell Investec (US) Incorporated, its registered
broker/dealer in the U.S., to Bank Hapoalim B.M., an Israeli-based banking
group. Investec sold the majority of its U.S. operations in 2002 and this
transaction effectively concludes the sale of its remaining U.S. operations,
which are non-core to the group`s strategy going forward. Investec will
continue to provide UK and South African securities sales and trading services
to its U.S. client base.
The transaction has been approved by the boards of directors of both Investec
plc and Bank Hapoalim B.M. Completion of the transaction is subject to receiving
the appropriate approvals from both companies` respective regulatory authorities
in the U.S. and Israel.
31 August 2005
Sponsor:
Investec Bank Limited
Date: 31/08/2005 08:00:05 AM
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