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Botswana: CMA directors may receive P18.4M through BIHL sell-off

 |  October 29, 2012

Three competition authorities have approved BIHL’s proposal to sell Bifm Capital, one of its subsidiaries, for up to P18.4 million, if Bifm wins an ongoing case to redeem shares from BBS. The proposal has been approved by the Competition Authority, Financial Institutions Regulatory Authority, and the Botswana Stock Exchange, and has only to face a green-lighting by shareholders, which is expected to occur at a general meeting mid-November. Whatever assets BIHL receives in the deal will be paid to joint owners of Bifm, BIHL and directors of CMA.

Full Content: MmegiOnline

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