ASA - Absa Group Limited- Absa Group sells its sta
ASA
AMAGB
ASA - Absa Group Limited- Absa Group sells its stake in CBZ 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 CBZ HOLDINGS LIMITED (CBZH)
Absa Group announces its intention to sell its 24,1% stake in CBZH. CBZH has
agreed to purchase Absa`s shareholding in terms of a share buy back scheme for
an undisclosed sum.
The Group`s minority investment in Zimbabwean-based CBZH, which was acquired in
1998, is no longer aligned with the Group`s wider African strategy. The proposed
transaction is in line with the CBZH Share Consolidation (share buy back) Scheme
which was approved by the shareholders of CBZH at an extraordinary general
meeting held on 14 November 2006. CBZH owns 100% of CBZ Bank Limited.
In terms of the JSE Limited`s Listings Requirements, this transaction is smaller
than a category 3 transaction and does not constitute a related party
transaction, and therefore this announcement is for information purposes only.
The transaction is subject to regulatory and other approvals.
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, a division of Absa Bank Limited
Johannesburg
19 December 2006
Date: 19/12/2006 08:16:19 Produced by the JSE SENS Department.
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