The Jannie Mouton Foundation has made a R7.2-billion take-private offer to acquire all the issued shares of private schools group Curro Holdings, pitching the deal as both a premium for investors and a catalytic philanthropic intervention in South African education.
Curro shares jumped more than 50% on the JSE on the back of the news and were last trading at R12.20 at 10.31am, up 52% compared to its closing price on the JSE on Tuesday.
“For the Jannie Mouton 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,” Mouton said in a statement on Wednesday.
“Over time, this will open the door for thousands more children to attend Curro schools through bursaries, broadening access to excellent education.”
Under the proposed scheme, Curro shareholders will receive the equivalent of R13/share in a mix of Capitec shares, PSG Financial Services shares and cash.
The offer price represents a 60% premium to Curro’s closing price on Monday, according to the statement.
Established in 1998, Curro has grown into a leading provider of for-profit schools in South Africa. The Curro model involves developing, acquiring and managing schools that provide “a quality education” for learners from three months to grade 12.
60% premium
Mouton is best known as the founder of and chairman of insurance giant PSG Group. He also co-founded Capitec along with Michel le Roux and Riaan Stassen.
The Curro transaction remains subject to shareholder and regulatory approvals and detailed terms of the offer will be set out in subsequent documents.
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“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. I see this as a landmark transaction for all parties involved – one that has the potential to deliver significant benefits for South Africa as a whole,” said Mouton in the statement. – © 2025 NewsCentral Media
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