Share

Curro still mulling offer for SA schools group Advtech

Johannesburg - Curro Holdings [JSE:COH] said the South African schools operator is still considering an offer for competitor Advtech [JSE:ADH], even after its rival said the proposal isn’t in the best interests of the company.

Advtech’s major shareholders have said they’d accept an offer of 13 rand a share, Johannesburg-based Curro said in a statement on Wednesday. The offer would be based on a share swap ratio of 2.59 Advtech shares for every Curro security, with Curro shares valued at 33.65 rand, the company said. The proposed offer also includes a 50 percent cash element for Advtech shareholders who do not wish to accept Curro shares.

Advtech shares gained as much as 7.8% to R12.50, having fallen 2.9% on Tuesday, when the company said it wasn’t interested in the takeover proposal. The stock traded 5.17% higher at R12.20 as of 08:27 in Johannesburg, valuing the company at R5.6bn. Curro shares fell 0.61% to R34.30 at the same time.

South Africa’s education system was ranked the fifth-worst among 144 countries in a survey by the World Economic Forum last year, increasing the attraction of private schooling for those who can afford it. The school pass rate for final-year students fell for the first time in five years in 2014 after changes to the curriculum.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.90
+0.2%
Rand - Pound
23.85
+0.2%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.12
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders