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  • Acquisition of THI Insurance by Zimnat General Insurance

Acquisition of THI Insurance by Zimnat General Insurance

THI Insurance acquired by Zimnat General
Thursday, 10 September 2020 / Published in News

Acquisition of THI Insurance by Zimnat General Insurance

 

NOTICE IN TERMS OF SECTION 33 OF THE INSURANCE ACT (CHAPTER 24:07) – PROPOSED ACQUISITION OF THI INSURANCE (PRIVATE) LIMITED BY ZIMNAT LION INSURANCE COMPANY LIMITED

 

NOTICE is hereby given in terms of Section 33 of the Insurance Act [Chapter 24:07] that:

 

  1. Application for Approval of Amalgamation

 

The respective directors of THI Insurance (Private) Limited (“THI”) and Zimnat Lion Insurance Company Limited (“Zimnat Lion”) intend to make an application to the Minister of Finance for the approval of the following transaction:

 

The proposed acquisition of the whole of the business of THI by Zimnat Lion and the subsequent amalgamation of the business of THI under Zimnat Lion.

 

  1. Salient Features of the Transaction

 

Subject to all Conditions Precedent being fulfilled, Zimnat Lion shall acquire the entire issued share capital of THI. Upon consummation of the transaction, THI shall become a wholly owned subsidiary of Zimnat Lion.

 

  1. Representations and Inspection of Documents

 

Any person who wishes to make representations relating to the application must lodge them, in writing, with the Commissioner of the Insurance and Pensions Commission, 160 Rhodesville Avenue, Greendale, Harare and may copy the representations to the undersigned within 21 days of the date of publication of this notice.

The relevant Share Purchase Agreement shall lie open for inspection during the notice period at the offices of the undersigned parties.

 

 BeraMasamba

Legal Advisors to Zimnat Lion

15th Floor, Joina City

Corner Jason Moyo Avenue/Julius Nyerere Way

Harare

 

   
The Directors                                      

THI Insurance (Private) Limited

Endeavour Crescent

Mount Pleasant Office Park

Harare

 

 

 

 

 

 

The Directors

Zimnat Lion Insurance Company Limited

Zimnat House

Corner 3rd Street & Nelson Mandela Avenue Harare

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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