It has been reported on the business news service, Zephus.com, that Nedcor Bank Ltd is to buy BOE Ltd in a 7300 million South African Rand deal. This will be a 100% acquisition.
Nedcor, parent company to Nedliberate factors, made its offer on Monday after weeks of speculation that they wanted to acquire the Cape-based bank.
However, the takeover is not imminent. It will not be until at least July, once shareholders have been consulted and the various regulatory processes have been completed, that the deal will be officially concluded.
Nedliberate is one of the seven major players in the South African factoring industry. The company is a member of the Association of South African Factors and Discounters (ASAFD) and of Factors Chain International (FCI).
BCR