BRIEF-Momentum Metropolitan To Buy Alexander Forbes Short-Term Insurance Business For R1.94 Bln

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BRIEF-Momentum Metropolitan To Buy Alexander Forbes Short-Term Insurance Business For R1.94 Bln
Credit: © Reuters.

July 25 (Reuters) - Momentum Metropolitan Holdings Ltd MTMJ.J :

* PROPOSED ACQUISITION OF ALEXANDER FORBES SHORT-TERM INSURANCE BUSINESS IN SOUTH AFRICA

* PROPOSED DEAL FOR TOTAL PURCHASE CONSIDERATION FOR R1 938 MILLION

* TO ACQUIRE ALEXANDER FORBES SHORT-TERM INSURANCE , AN INDIRECT SUBSIDIARY OF ALEXANDER FORBES GROUP HOLDINGS

* FINAL PRICE WILL BE SETTLED IN CASH AND IS GUARANTEED BY MOMENTUM METROPOLITAN ON BEHALF OF ITS SUBSIDIARY, MMSI

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