Johannesburg - Risk and brokerage firm Jardine Lloyd
Thompson (JLT SA) has concluded a broad based economic empowerment (BEE) deal
which will see 25% of its stake being sold to Thebe Investment Corporation and
an employee share trust.
Thebe Investment Corporation will hold 20% of JLT SA and the
remaining 5% will be held by an employee share trust whose beneficiaries are
previously disadvantaged‚ the company said on Wednesday.
Post the deal Thebe will have two directors on the board of
“We are excited to be investing into a growing business and
partnering with a strong management team‚ holding a clear sense of direction.
Thebe has long been involved in the financial services sector‚ especially
insurance through various businesses it has owned and partnered with over the
years and the sector remains an important pillar to our overall growth
strategy. We are excited about this transaction as it allows Thebe to regain an
entrance into the insurance sector‚” Thebe chairperson Vusi Khanyile said.
JLT SA CEO Andrew Chislett added that for a newly
established risk and brokerage firm the BEE deal was a huge endorsement from an
organisation like Thebe.
“Thebe is an excellent partner who is highly regarded for
their heritage and the important role they play in business in SA‚” Chislett