• South Africa's Curro Holdings faces a JSE delisting following a $418 million buyout offer from the Mouton Family Foundation at a 60% premium.

• The plan will convert Curro's 189 schools into a non-profit organization, redirecting all future profits to fund new schools and student bursaries.

• Shareholders are set to vote on the transformative deal on Oct 31, reflecting a vision to use private school infrastructure for the public good.

Curro Holdings, an education group with 189 schools in South Africa, is expected to get delisted from the Johannesburg Stock Exchange (JSE) if a recent $418 million (R7.2 billion) buyout offer by the Mouton family is finalized. The family's investment vehicle, the Jannie Mouton Family Foundation, has made a bold move to acquire the country's largest private education provider and transform it into a non-profit organization.

The foundation has offered to buy all outstanding shares at $0.75 per share, a figure that represents a substantial 60% premium over the company's recent trading price on the JSE. This premium values the entire group at $418 million, implying its market capitalization before the offer was roughly $261 million.

The crucial decision now lies with the shareholders, who are scheduled to vote on this landmark deal on October 31, 2025. Curro's performance is measured by its significant scale. The group currently operates 189 schools across 81 campuses, providing education to over 72,000 learners nationwide.

According to the foundation's founder, Jannie Mouton (77), the goal is to reposition education as a public good rather than a profit-generating enterprise. Under the new model, all future profits, instead of being paid to shareholders as dividends, will be reinvested directly into the school network. These surplus funds will be used to build new campuses and, critically, to fund bursaries and scholarships, making quality education accessible to more students.

The financial logic is also compelling. Jan Mouton, the founder's son, noted that acquiring Curro's extensive network averages out to just $2.1 million per school, a far more efficient use of capital compared to the estimated $5.8 million it would cost to build a single new school from scratch.

The acquisition will be financed using the foundation's substantial holdings in two other major South African companies: Capitec Bank and PSG Financial Services. If the deal is approved, Curro will be removed from the JSE, and its new status as a public benefit organization will provide significant tax advantages. This move represents a unique strategy to leverage private-sector infrastructure for a public-facing mission, aiming to expand educational access across South Africa.

Cynthia Ebot Takang