TRUSTCO GROUP SOLIDIFIES INSURANCE AND PROPERTY HOLDINGS WITH STRATEGIC TRANSACTION
Windhoek, Khomas, Namibia, 23rd Apr 2024 – Trustco Group Holdings Limited (Trustco) today announced its acquisition of an additional 11.35% interest in Legal Shield Holdings Limited (Legal Shield) from Riskowitz Value Fund LP (RVF) for NAD 468 million. This will increase Trustco’s holding in Legal Shield to 91.35%.
The strategic transaction fortifies Trustco’s investment footprint in the insurance and real estate sectors in Namibia, both primed for substantial growth in the post-pandemic landscape. The coveted assets acquired encompass Trustco Insurance Limited, Trustco Life Limited, and an extensive real estate portfolio spanning an impressive 2,473 sellable hectares (6,112 acres) of prime real estate strategically positioned across Namibia. This real estate portfolio has demonstrated i...