BW concludes Capricorn acquisition

10 Apr 2014 11:00


Bank Windhoek Holdings (BWH) Limited has concluded its acquisition of
a 100% stake in Capricorn Asset Management (CAM).

BWH managing director Christo de Vries said the transaction is a key
enabler towards achieving BWH's aim to diversify its business
interests.

"The key motivations for the transaction are to drive synergies
between the value offering in the BWH Limited group and CAM, the
diversification of BWH's income streams, and growth potential," de
Vries said.

BWH had advised its shareholders on 18 February that it will acquire
the entire issued share capital of Capricorn Asset Management
(proprietary) Limited as from the 1st January 2014.
BWH further announced all regulatory approvals towards the
transactions have been obtained and all conditions precedent had been
met in April.

CAM is one of the Namibia's leading asset management companies with
N$10.4 under management as at 31 December 2013.

It was officially launched in July 2006 as a fully-fledged licensed
local independent asset management company.

It currently manages and administers 13 units' trust funds, a number
of segregated portfolios including pension fund mandates, with the BW
Unit Trusts constituting the largest portion of the assets.