{"id":67605,"date":"2024-04-25T16:13:28","date_gmt":"2024-04-25T16:13:28","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield"},"modified":"2024-04-25T16:27:56","modified_gmt":"2024-04-25T16:27:56","slug":"trustco-increases-stake-in-legal-shield","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield","title":{"rendered":"Trustco increases stake in Legal Shield"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>Trustco Group Holdings Limited (Trustco) on Tuesday announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for N$468 million.<\/p>\n

When approved, this deal will increase Trustco\u2019s shareholding in Legal Shield to 91.35%.<\/p>\n

The transaction is of course subject to relevant regulatory approvals and is expected to be finalised by the end of July 2024, or as otherwise agreed upon by both parties.<\/p>\n

The proposal states that Trustco will issue 400 million new shares to RVF at N$1.17 per share in two tranches of 200 million shares each.<\/p>\n

\u201cThe strategic transaction fortifies Trustco\u2019s investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted assets acquired encompass Trustco Insurance Limited, Trustco Life Limited and an extensive real estate portfolio, spanning an impressive 2 473 sellable hectares of prime real estate strategically positioned across Namibia.<\/p>\n

\u201cThis real estate portfolio has demonstrated its value-generating prowess, generating cash in excess of N$934 million since 2011. Notably, the current average selling price for the portfolio stands at N$1 800 per square meter, underscoring the immense potential for capital appreciation and revenue growth within this asset class,\u201d read a Trustco statement.<\/p>\n

The statement continued that this vast land bank presents an unparalleled opportunity, with the potential for over 26 000 mixed-use erven to be developed.<\/p>\n

\u201cThe real estate portfolio has an established proven track record, successfully servicing more than 1 106 erven across all its developments over the past decade,\u201d Trustco added, stating that \u201cthe company boasts an ambitious development pipeline extending another 25 years,\u201d and that \u201cNamibia is experiencing an acute shortage of serviced land for residential, commercial and industrial purposes.\u201d<\/p>\n

Trustco\u2019s deputy CEO Quinton van Rooyen Jnr, expressed enthusiasm about the transaction, stating: \u201cThis acquisition underscores our commitment to creating long-term value for our investors, and allows us to capitalise on the anticipated capital growth, improved liquidity and buyer demand in the Namibian real estate market. By expanding our real estate portfolio, we are poised to benefit from Namibia\u2019s resurgent property market in the post-pandemic era.\u201d<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. Trustco Group Holdings Limited (Trustco) on Tuesday announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for N$468 million. When approved, this deal will increase Trustco\u2019s shareholding in Legal Shield to 91.35%. The transaction is of course subject to relevant […]<\/p>\n","protected":false},"author":84,"featured_media":67603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-67605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nTrustco increases stake in Legal Shield - Namibia<\/title>\n<meta name=\"description\" content=\"Trustco Group Holdings Limited (Trustco) on Tuesday announced its acquisition of an additional 11.35% interest in Legal ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trustco increases stake in Legal Shield\" \/>\n<meta property=\"og:description\" content=\"Trustco Group Holdings Limited (Trustco) on Tuesday announced its acquisition of an additional 11.35% interest in Legal ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-25T16:13:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-25T16:27:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1714049719.801633.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"475\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Trustco increases stake in Legal Shield\",\"datePublished\":\"2024-04-25T16:13:28+00:00\",\"dateModified\":\"2024-04-25T16:27:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\"},\"wordCount\":363,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1714049719.801633.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-increases-stake-in-legal-shield\",\"name\":\"Trustco increases stake in Legal Shield - 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