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Cape Town - Nadeson Investments has acquired a 25.1% stake in Risk Benefit Solutions (RBS), one of SA’s largest independent insurance and risk specialists.
Nadeson Investments is led by Hassen Adams, chair of Grand Parade Investments [JSE:GPL], the parent company of Burger King SA.
The value of the deal was not disclosed.
RBS currently has over 5 000 corporate and commercial clients on its books, as well as 10 000 personal lines clients.
The transaction will result in RBS, whose other shareholders include Hollard and RBS management, attaining a level 4 BEE rating.
Nadeson Investments is a private investment holding company which is 95% black-owned.
Adams and Alan Keet, both directors and shareholders of Nadeson Investments, will form part of the RBS board as non-executive directors.
“We consider RBS a good partner that will assist in diversifying Nadeson Investments’ portfolio," said Adams.
RBS CEO Michael Petersen said the transaction will assist RBS in achieving the aggressive growth strategy planned for the next five years.
He said part of the business’s growth strategy is to franchise nationally, which will in turn allow other brokers to address their BEE statuses.
- Fin24
Nadeson Investments is led by Hassen Adams, chair of Grand Parade Investments [JSE:GPL], the parent company of Burger King SA.
The value of the deal was not disclosed.
RBS currently has over 5 000 corporate and commercial clients on its books, as well as 10 000 personal lines clients.
The transaction will result in RBS, whose other shareholders include Hollard and RBS management, attaining a level 4 BEE rating.
Nadeson Investments is a private investment holding company which is 95% black-owned.
Adams and Alan Keet, both directors and shareholders of Nadeson Investments, will form part of the RBS board as non-executive directors.
“We consider RBS a good partner that will assist in diversifying Nadeson Investments’ portfolio," said Adams.
RBS CEO Michael Petersen said the transaction will assist RBS in achieving the aggressive growth strategy planned for the next five years.
He said part of the business’s growth strategy is to franchise nationally, which will in turn allow other brokers to address their BEE statuses.
- Fin24
