Alexander Forbes Group Holdings says a Motsepe-linked firm is increasing its ownership stake as US insurer Prudential Financial exits its investment in South Africa’s largest standalone retirement-fund administrator. Bloomberg reports the move consolidates control under a firm associated with billionaire Patrice Motsepe, with Prudential Financial stepping away from the holding.
Moneyweb adds that ARC AF Holdings raises its stake to 77.94% from 49.88%. It says the increase is linked to an approximately R2.5 billion share buyback by Alexander Forbes. The combined accounts describe a change in shareholder composition and governance, with ARC AF Holdings effectively taking a dominant position while Prudential Financial reduces or fully exits its stake. Across the coverage, the focus differs slightly—Bloomberg emphasizes control consolidation and Prudential’s exit, while Moneyweb highlights the specific stake percentage and the buyback amount financed through the transaction.
