Mercer to Acquire 34% Strategic Stake in South Africa-Based Alexander Forbes
23 6월 2014 - 8:53PM
Business Wire
Mercer announced today that it has entered into a definitive
agreement to acquire a 34% stake in South Africa-based Alexander
Forbes Group Holdings Limited (Alexander Forbes), becoming a key
strategic shareholder in the upcoming listing of Alexander Forbes
on the Johannesburg Stock Exchange (JSE). Alexander Forbes also
announced today its intention to list on the JSE. Alexander Forbes
provides a range of services to institutional and retail clients
that align closely with Mercer’s global business. Mercer is a
wholly-owned subsidiary of Marsh & McLennan Companies (NYSE:
MMC), a global professional services firm offering clients advice
and solutions in the areas of risk, strategy, and human
capital.
“We are thrilled to have this opportunity to establish a
relationship with Alexander Forbes, a leader in the retirement,
investments, and employee benefits space in South Africa and
broader Sub-Saharan Africa,” said Julio A. Portalatin, President
and Chief Executive Officer of Mercer. “This is the beginning of a
strong partnership that will generate value for both of our firms
and our respective clients. We are particularly excited to
significantly broaden our exposure to the growth prospects present
in South Africa and sub-Saharan Africa. Through this investment, we
will be able to support our global clients seeking to enter and
expand into the African market, and with our global reach and
capabilities, we will be able to support Alexander Forbes’ clients
seeking to grow outside of Africa.”
Alexander Forbes principally focuses on employee benefits and
investment solutions for institutional clients, and financial
wellbeing and retail financial solutions for individual clients.
Services include retirement funds and investment consulting,
actuarial and administration services, employee risk benefits and
healthcare consulting, multi-manager investments solutions, and
personal lines and business insurance.
This transaction is conditional upon the listing of Alexander
Forbes and other customary closing conditions, including the
receipt of requisite regulatory approvals. BofA Merrill Lynch acted
as financial advisor, and Webber Wentzel in South Africa and
Slaughter and May in the UK acted as legal advisors on the
transaction.
About Mercer
Mercer is a global leader in talent, health, retirement, and
investments. Mercer helps clients around the world advance the
health, wealth, and performance of their most vital asset – their
people. Mercer’s more than 20,000 employees are based in 42
countries and the firm operates in over 130 countries. Mercer is a
wholly owned subsidiary of Marsh & McLennan Companies (NYSE:
MMC), a global team of professional services companies offering
clients advice and solutions in the areas of risk, strategy, and
human capital. With over 55,000 employees worldwide and annual
revenue exceeding $12 billion, Marsh & McLennan Companies is
also the parent company of Marsh, a global leader in insurance
broking and risk management; Guy Carpenter, a global leader in
providing risk and reinsurance intermediary services; and Oliver
Wyman, a global leader in management consulting. For more
information, visit www.mercer.com. Follow Mercer on Twitter
@MercerInsights.
About Marsh & McLennan Companies
Marsh & McLennan Companies (NYSE: MMC) is a global
professional services firm offering clients advice and solutions in
the areas of risk, strategy, and human capital. Marsh is a global
leader in insurance broking and risk management; Guy Carpenter is a
global leader in providing risk and reinsurance intermediary
services; Mercer is a global leader in talent, health, retirement,
and investment consulting; and Oliver Wyman is a global leader in
management consulting. With annual revenue exceeding $12 billion,
Marsh & McLennan Companies’ 55,000 colleagues worldwide provide
analysis, advice, and transactional capabilities to clients in more
than 130 countries. The Company prides itself on being a
responsible corporate citizen and making a positive impact in the
communities in which it operates. Visit www.mmc.com for more
information.
About Alexander Forbes
Alexander Forbes is a specialised financial services group
headquartered in South Africa focusing on employee benefits
solutions for institutional clients, and financial wellbeing and
retail financial solutions for individual clients, in particular
employees of the Group’s institutional clients. The Group’s primary
clients span both the private and public sector market segments,
including employers, retirement, health, investment and other
special purpose funds on the institutional side, and individual
members and beneficiaries of these funds, as well as the wider
individual market, on the retail side. The main services provided
by the Group include retirement funds and asset consulting,
actuarial, investment and administration services, employee risk
benefits and healthcare consulting, personal lines insurance,
individual financial advisory and multi-manager investment
solutions. Alexander Forbes’ principal geographic focus is in South
Africa, where it has been operating since 1935, sub-Saharan Africa,
the UK and other selected jurisdictions which have employee
benefits legislative frameworks similar to South Africa.
MercerCharles Salmans,
212-345-4512charles.salmans@mercer.com
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