(Ecofin Agency) - JSE-listed Conduit Capital announced it will sell all the shares it holds in its subsidiaries Constantia and Conduit Ventures, respectively specialized in the provision of insurance and risk management solutions. The operation is a deal between Conduit Capital and Legal Shield Holdings Limited (LSH), a subsidiary of Namibian group Trustco.

In return, Conduit will become a shareholder in LSH. The transaction is subject to the approval of a range of South African regulatory institutions and is expected to be completed by March 2020.

Conduit Capital said the sale of its insurance business, Constantia Risk and Insurance, will bolster its balance sheet and give it an investment in a larger and more diversified financial services provider.

Chamberline Moko