Nimbus shareholders approve Paratus takeover and name change

4 Oct 2019

Nimbus Infrastructure shareholders have approved the renaming of the company to Paratus Namibia Holdings Limited, reports The Namibian. According to an announcement made on the Namibian Stock Exchange news platform following Nimbus’s annual general meeting last week, shareholders also approved a share swap whereby Nimbus will acquire the remaining Paratus Telecommunications Limited shares from the Paratus Africa Group, thereby increasing its stake from 51.4% to 100%. The transaction remains subject to regulatory approval, following which the largest shareholders in Nimbus will be as follows: Paratus Group Holdings (41.07%), Capricorn Investment Group (17.68%) and Schalk Leipoldt van Zyl Erasmus (5.61%).

Namibia, Paratus (Namibia)