African Phoenix and Zarclear weigh merger

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The two investment companies say a merger would boost their prospects

African Phoenix Investments , which rose out of the ashes of African Bank, is considering a merger with new shareholder, financial services group Zarclear.

Zarclear had a net asset value of 536c as of the end of September, trading at a discount of 20% on Tuesday, when it had market capitalisation of about R970m.

 

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