{"id":836083,"date":"2025-08-27T10:27:18","date_gmt":"2025-08-27T08:27:18","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=836083"},"modified":"2025-10-03T20:16:35","modified_gmt":"2025-10-03T18:16:35","slug":"south-african-billionaire-buying-south-african-private-school-giant-for-r7-2-billion","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/836083\/south-african-billionaire-buying-south-african-private-school-giant-for-r7-2-billion\/","title":{"rendered":"South African billionaire buying South African private school giant for R7.2 billion"},"content":{"rendered":"\n

South African billionaire Jannie Mouton is purchasing private school giant Curro for roughly R7.2 billion. <\/p>\n\n\n\n

Mouton plans to acquire Curro via the Jannie Mouton Foundation, which was established as a Public Benefit Organisation (PBO). <\/p>\n\n\n\n

Mouton is a renowned businessman who was central in the creation of Capitec Bank, PSG Group, PSG Financial Services, and Curro. <\/p>\n\n\n\n

Curro Holdings Limited is South Africa\u2019s largest independent school network. As per its latest financials, it has 71,749 students<\/a>. <\/p>\n\n\n\n

The trust\u2019s vision is to position Curro as an ever-evolving independent education institution that uses its funds to build more schools, expand facilities and offer bursaries.<\/p>\n\n\n\n

The trust is an existing shareholder of Curro at 3.36%, and Mouton has a long-standing history with Curro. <\/p>\n\n\n\n

It said there remains a strong demand for quality education across communities in South Africa. <\/p>\n\n\n\n

It believes that South Africa has far more opportunities to build and operate more schools and enhance quality educational outcomes. <\/p>\n\n\n\n

Should the transaction proceed, the Curro business will continue to grow independently, with the current management on board. <\/p>\n\n\n\n

Curro will also become a registered PBO. <\/p>\n\n\n\n

\u201cAt present, Curro demonstrates the evolution of its business model towards sustainably high returns for Shareholders, albeit gradually, given the long-cycle nature of the education sector.\u201d <\/p>\n\n\n\n

\u201c Management adopted an introspective approach to drive higher financial margins and returns rather than to expand Curro’s network during the last few years in a period of anaemic economic growth.\u201d <\/p>\n\n\n\n

Although Curro will be a non-profit company (NPC) and PBO going forward, the trust said it will continue operating efficiently and expand. <\/p>\n\n\n\n

Curro’s growth will be accelerated via reinvestment of its potential returns\/surplus. <\/p>\n\n\n\n

This will scale its offering faster and further through new builds, expansions, the acquisition of schools and innovation in education.<\/p>\n\n\n\n

Complex offer<\/h2>\n\n\n
\n
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The trust seeks to acquire all the Curro Shares with an offer that equates to R13 per Scheme Share. <\/p>\n\n\n\n

Following the implementation of the Scheme of Arrangement, the Trust will delist the Curro Shares from the JSE.<\/p>\n\n\n\n

The equivalent R13 per Scheme share includes a:<\/p>\n\n\n\n

    \n
  • Cash Consideration of R0.85837 per Scheme Share (which will comprise approximately 6.6% of the Scheme Consideration)<\/li>\n\n\n\n
  • Capitec Shares in the ratio of 0.00284 Capitec Shares per Scheme Share (which will comprise approximately 79.7% of the Scheme Consideration); <\/li>\n\n\n\n
  • PSG Financial Services Shares in the ratio of 0.07617 PSG Financial Services Shares per Scheme Share (which will comprise approximately 13.7% of the Scheme Consideration).<\/li>\n<\/ul>\n\n\n\n

    It will be deemed that the value of the Capitec and PSG Financial Services Shares are R3 649.57 and R23.30, respectively, regarding the prices on 25 August 2025.<\/p>\n\n\n\n

    The trust said that the scheme consideration represents a premium of 60% to the closing share price of R8.13 on 25 August 2025. <\/p>\n\n\n\n

    It also marks a premium of 53% to the 30-day volume weighted average share price of R8.52. <\/p>\n\n\n\n

    The deal equates to about 1.3% of Capitec’s and 3.2% of PSG Financial Services’ issued share capital.<\/p>\n\n\n\n

    \u201cFor the foundation, acquiring Curro represents a game-changing R7.2 billion donation in quality education- quite possibly the largest philanthropic contribution South Africa has ever seen,” said Jan Mouton, a trustee of the Foundation and Jannie Mouton\u2019s oldest son.<\/p>\n\n\n\n

    “Over time, this will open the door for thousands more children to attend Curro schools through bursaries, broadening access to excellent education.” <\/p>\n\n\n\n

    “At the same time, Curro shareholders stand to benefit from a 60% premium on the current market price, ensuring that both education and investors gain from this bold initiative.” <\/p>\n","protected":false},"excerpt":{"rendered":"

    Jannie Mouton’s trust is looking to acquire Curro for R7.2 billion, with shareholders potentially receiving Capitec and PSG Financial Services shares in exchange. <\/p>\n","protected":false},"author":95,"featured_media":818732,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[1798,8043,4670,23466],"class_list":["post-836083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-capitec","tag-curro","tag-jannie-mouton","tag-psg-financial-services"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836083"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836083\/revisions"}],"predecessor-version":[{"id":839063,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836083\/revisions\/839063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/818732"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}