Anchor advances Capricorn deal

Anchor Group says negotiations over the acquisition of 47.41 percent of Capricorn Fund Managers (CFM) are at an advanced stage.

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Johannesburg - Anchor Group announced on Wednesday that negotiations over the acquisition of 47.41 percent of Capricorn Fund Managers (CFM) were at an advanced stage.

Anchor said in a statement the proposed deal with the leading global emerging markets hedge fund business, which has more than R6 billion of assets under management, was worth R348.4 million, subject to financial targets.

The deal, which is subject to regulatory approvals, would be funded by cash and shares.

It is expected to conclude in February.

AFRICAN NEWS AGENCY