Mercer has acquired a 34% stake in fellow consultancy firm Alexander Forbes.
The move will see Mercer become a key strategic shareholder following the upcoming listing of South Africa-based Alexander Forbes on the Johannesburg Stock Exchange.
Mercer said Alexander Forbes provides a range of services to institutional and retail clients that align closely with its own global business.
Mercer president and chief executive Julio Portalatin said: “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.
“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.”
The transaction is conditional upon the listing of Alexander Forbes and other customary closing conditions, including receipt of the necessary regulatory approvals.
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