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ASA
AMAGB
Absa Group - ABSA Group sells its stake in Capricorn Investment Holdings Limited
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, Absa Group or the Group)
ABSA GROUP SELLS ITS STAKE IN CAPRICORN INVESTMENT HOLDINGS LIMITED
Absa Group has sold its stake of 34,4 % in Namibian-based Capricorn Investment
Holdings Limited (CIH) to shareholders of CIH for an undisclosed sum.
The Group"s investment in CIH no longer falls in line with its wider African
strategy owing to CIH"s planned regional expansion programme. CIH owns 100% of
Bank Windhoek Limited.
The Group"s shareholding in CIH dates back to the days of Volkskas Bank in
Namibia, specifically when Volkskas Bank acquired its shareholding in Bank
Windhoek in 1982. Volkskas Bank later became part of Absa in 1991.
Cooperation between CIH, Absa and Bank Windhoek will continue as and when
opportunities arise in areas such as structured finance, syndication of large
and complex corporate finance transactions and settlement accounts.
As part of the sale agreement, Absa retains a pre-emptive right on the majority
stake in CIH held by Bank Windhoek Beherend Limited.
Absa remains committed to supporting its customers operating in Namibia and to
becoming the pre-eminent bank in Africa.
In terms of the JSE Limited"s Listing Requirements, this transaction is smaller
than a category 3 transaction, and therefore this announcement is for
information purposes only.
Enquiries
Jacques Schindehutte
Group executive director
(+2711) 350-4850
E-mail: jacquessc@absa.co.za
Issued by:
Jacques Badenhorst
Investor Relations
Absa Group Limited
4th floor, Absa Towers East, 170 Main Street, Johannesburg
Tel: (+2711) 350-4061 Fax: (+2711) 350-6487
E-mail: jacques.badenhorst@absa.co.za
Lead sponsor:
Merrill Lynch South Africa (Proprietary) Limited
Co-sponsor:
Absa Capital - Corporate Finance, a division of Absa Bank Limited
Johannesburg
8 November 2006
Date: 08/11/2006 03:45:07 PM Produced by the JSE SENS Department
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