Home
>
>
Big investors oppose Advtech deal – Business Day

Big investors oppose Advtech deal – Business Day

Private education group Advtech looks set for a showdown with its two biggest institutional shareholders over the funding structure for a proposed R450m acquisition of smaller rival Maravest. On Tuesday, Coronation Fund Managers and Kagiso Asset Management — which collectively have a 40% stake — confirmed they were likely to vote against the Maravest transaction. The deal needs the support of 50% of Advtech’s shareholders at a general meeting next Wednesday. Simon Anderssen discusses our misgivings around the proposed transaction.

invest
now