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Private schooling group Curro Holdings has confirmed that all suspensive conditions relating to its acquisition by the Jannie Mouton Foundation have been fulfilled or waived, rendering the transaction unconditional and clearing the way for the group\u2019s delisting from the JSE.<\/p>\n
In a Sens announcement released on Tuesday, Curro announced the scheme of arrangement, which was approved by shareholders at a general meeting on 31 October, will now be implemented.<\/p>\n
Read:
FSCA assesses suspicious Curro trades before R7.2bn buyout offer
CompCom backs R7.2bn Curro buyout plan<\/p>\n
Implementation of the scheme will result in shareholders recorded on the scheme consideration record date receiving the agreed cash and share consideration. The issued ordinary shares of Curro will thereafter be delisted from the JSE\u2019s main board.<\/p>\n
\nAccording to the published timetable, Curro shares are expected to trade for the last time on 6 January 2026, with trading suspended from 7 January.<\/p>\n
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The termination of the listing is anticipated to take effect on or about Tuesday, 13 January.<\/p>\n
Education-focused philanthropy<\/strong><\/p>\n
In a separate statement on Monday, the Jannie Mouton Foundation noted that its R7.2 billion acquisition and donation of Curro is now unconditional, describing the transaction as a milestone for education-focused philanthropy in South Africa that will benefit the public at large, particularly previously disadvantaged students.<\/p>\n
As a result of the transaction, Curro and its 189 schools will become a public benefit organisation with no shareholders.<\/p>\n
All surplus funds will be applied to public benefit activities in the education space, including the provision of bursaries to talented underprivileged learners, the construction of new schools and the upgrading of facilities at existing schools.<\/p>\n
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Read:
Billionaire Jannie Mouton\u2019s foundation in R7.2bn Curro buyout
Curro deal: SA\u2019s education crisis demands bold solutions
Capitec founder pivots into education with Curro buyout offer<\/p>\nJan Mouton of the Jannie Mouton Foundation said the transaction reinforces the long-term importance of investing in education as a foundation for economic and social upliftment.<\/p>\n
\u201cWith this approval, the Jannie Mouton Foundation is positioned to deliver the largest private commitment ever made to education in South Africa, with exciting possibilities and benefits that will extend well beyond the present generation,\u201d he added.<\/p>\n
Curro share price\u00a0<\/strong><\/p>\n
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