Curro buyout gets CompComm go-ahead

South Africa's Competition Commission has granted its approval of the R7.2bn acquisition of the Curro Group by the Jannie Mouton Foundation.

1 Dec 2025

Image source: pressfoto from Freepik

In its statement of latest decisions issued on Friday, 28 November, the Commission said it "is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market."

Further, it "recommended that the Tribunal approve the proposed transaction subject to undertakings that will make a substantial positive contribution to education, including of historically disadvantaged persons (HDPs)."

What Jannie Mouton's R7.2bn buyout offer would mean for Curro

Shan Radcliffe 29 Aug 2025

As per the buyout offer, shareholders will receive a small cash portion along with shares in Capitec and PSG Financial Services, to the value of around R13 per Curro share.

This is broken down as follows:

A cash amount of R0.85837 per scheme share (roughly 6.6% of the total).
Capitec shares at a ratio of 0.00284 per scheme share (amounting to an estimated 79.7% of the total).
PSG Financial Services shares at 0.07617 per scheme share (rounding off the final 13.7%).

The deal won the majority vote from shareholders at the end of October, and both Namibia and Botswana's Competition Commissions have approved the acquisition without conditions.