Transaction Summary
Old Mutual Corporate Ventures Proprietary Limited (OMCV) has reached an agreement to acquire a 30% stake in two subsidiaries of Vunani Limited, a diversified South African financial services group: Fairheads Benefit Services (FBS) and Fairheads Financial Services (FFS). FBS and FFS specialise in managing beneficiary funds for minor dependents of deceased retirement fund members. Valued at R70 million ($3.8 million), the sale is managed by Vunani Capital, a wholly owned subsidiary of Vunani Limited, with shares held through Mandlalux Proprietary Limited (Mandlalux), also a subsidiary of Vunani Limited. The payment for the transaction will be made in cash. The transaction is subject to regulatory approval from the Competition Commission of South Africa and confirmation that no significant negative changes have impacted FBS and FFS. These conditions must be met by 31 May 2025, with the possibility of an extension. OMCV operates under Old Mutual Corporate, an Old Mutual Life Assurance
