Curro Holdings Limited, which operates three private schools in Namibia, will be delisted from the JSE on 13 January following the completion of its acquisition by the trustees of the Jannie Mouton Stigting.
The transaction, valued at N$7.2 billion, has received approval from competition authorities in Namibia, South Africa and Botswana, clearing all key regulatory requirements.
The scheme of arrangement, approved by Curro shareholders on 31 October 2025, provides for the Trust to acquire all issued shares in Curro at R13 per share. This represents a 60% premium to the company’s closing price of R8.13 on 25 August 2025.
With all suspensive conditions now fulfilled or waived, the scheme has become unconditional and will proceed to implementation.
Trading in Curro Holdings Limited shares will be suspended from 7 January, with the last day to trade under the scheme set for 6 January. Scheme consideration payments to both dematerialised and certificated shareholders are scheduled for 12 January, ahead of the delisting.
“Curro is pleased to confirm that all of the suspensive conditions, as outlined in the circular, have now been fulfilled or waived and that the scheme of arrangement has accordingly become unconditional,” the company said in its finalisation announcement.
The Namibian Competition Commission previously concluded that the transaction is unlikely to substantially lessen competition or entrench a dominant market position.
Curro operates Oshana Gymnasium, Walvis Bay Gymnasium and Windhoek Gymnasium in Namibia, as well as one school in Botswana.
In Botswana, the Competition and Consumer Authority determined that the acquisition constitutes an internal shareholder restructuring, with no expected impact on market structure or operations.
“The structure of the market will not change upon implementation, and the merger is not expected to affect employment or service provision in Botswana,” said CCA chief executive Gideon G. Nkala.
