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FirstRand, BJM deal gets nod

Dec 14 2010 13:17 I-Net Bridge

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Johannesburg - The acquisition of stockbrokers Barnard Jacobs Mellet Holdings [JSE:BJM] by FirstRand Investment Holdings (Pty) Limited (FRIHL), a wholly-owned subsidiary of FirstRand [JSE:FSR], is a done deal.

The parties said on Tuesday that all regulatory approvals have been received and suspensive conditions to the scheme of arrangement fulfilled.

BJM, which was acquired for a cash consideration of R4.50 per share, will delist from the JSE on January 4.
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