The Competition Tribunal has approved the merger in which BWS Holdings Ltd (“BWS Holdings”) will acquire Just Group plc. (“Just Group”), subject to public interest conditions aimed at increasing existing procurement by historically disadvantaged persons (“HDPs”) and related development initiatives.
BWS Holdings, a Bermuda-based private entity, operates in the financial and insurance services industry. In particular, it provides annuities, life insurance, property and casualty protection insurance and pension risk transfers. It does not conduct any business in South Africa.
Just Group, headquartered in the United Kingdom, is a retirement-focused financial services provider. Its offerings include pension de-risking solutions, lifetime income products, care plans and professional financial advice. In South Africa, Just Group solely controls Just Retirement (South Africa) Holdings (Pty) Ltd, which provides retirement income and life annuity products through Just Retirement Life Ltd.