What Jannie Mouton's R7.2bn buyout offer would mean for Curro

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According to the SENS announcement, notifying shareholders of intent to acquire (firm intention announcement), the foundation is an existing shareholder of Curro (3.36%). The proposed buyout, if accepted, will see the delisting of Curro Holdings, and its transformation into a PBO.

"After the transaction, there will be no shareholders - all profits will be reinvested into expanding access and improving educational quality," Jan Mouton (junior), foundation spokesperson and Jannie Mouton's son, told the eNCA.

“Rather than reducing school fees, we aim to fund at least 12,000 full bursaries for underprivileged children, build schools in underserved areas, and improve facilities - even where it doesn’t make commercial sense,” he continued.

Retention of management

The firm intention announcement also assured that, following the acquisition, Curro's current management and the existing board will be retained for the immediate future: "The [foundation] is aligned with Curro’s approach to good corporate governance and the robust framework, which management has put in place in its establishment of an institution of academic excellence in South Africa. Continued governance and oversight is important to the [foundation]."

The latest Curro financial results, released on 27 August 2025, states it has 71,749 learners enrolled in its network of 189 schools, across 81 campuses. Curro Holdings has been listed on the JSE since 2011.

UPDATE - 2 September 2025, 1.45pm

Offer to shareholders

The foundation's offer will see Curro shareholders receive "a consideration of an equivalent of R13.00 comprising of Capitec shares, PSG Financial Services shares, and cash in exchange for their Curro shares.

Said Mouton (junior): "Curro shareholders stand to benefit from a 60% premium on the current market price, ensuring that both education and investors gain from this bold initiative. I see this as a landmark transaction for all parties involved—one that has the potential to deliver significant benefits for South Africa as a whole.”

“The independent board will evaluate the offer further but suffice to say the Jannie Mouton Foundation is not a competitor of Curro and has offered a substantial premium to the market price,” confirmed Cobus Loubser, chief executive officer of Curro.

The offer remains subject to shareholder and regulatory approval.