Billionaire’s deal to privatise South Africa’s biggest private school group hits a speed bump

There will be a slight delay in getting Curro’s proposed R7.2 billion takeover over the finish line, with South Africa’s Competition Commission granted a 10-business-day extension.

This comes after Curro informed shareholders that the Jannie Mouton Foundation has agreed to grant the commission an extension to allow the Department of Trade, Industry and Competition (DTIC) to provide its feedback on the proposed acquisition.

The Jannie Mouton Foundation is looking to acquire all of Curro’s shares and turn the company into a non-profit entity for around R7.2 billion.

Established in 1998, Curro is currently the largest private school group in the country, with over 180 schools that aim to offer affordable, high-quality education to a broad cross-section of South African society.

Billionaire businessman Jannie Mouton is the man behind some of South Africa’s most successful companies, including the PSG Group, Capitec and his foundation’s current takeover target, Curro.

The Jannie Mouton Foundation is a charitable organisation that was founded by Mouton as a public benefit organisation.

In August 2025, the foundation announced its plan to acquire all of Curro Holdings’ issued shares, offering shareholders the equivalent of R13.00 in Capitec shares, PSG Financial Services shares, and cash in exchange for their Curro shares.

This transaction mustered overwhelming shareholder approval at the end of October, with 99.98% of shareholders voting in favour of the deal at Curro’s recent general meeting.

Now, the only hurdle remaining is obtaining approval from South Africa’s competition authorities, including the Competition Commission and Tribunal.

On Tuesday, 18 November, Curro informed shareholders that the Jannie Mouton Foundation has engaged with the Competition Commission and the DTIC.

Following these engagements, the foundation agreed to grant the Competition Commission a 10-business-day extension to allow the DTIC additional time to provide its feedback.

“Given the extension required by the South African Competition Commission, the salient dates and times set out in the circular will need to be revised,” the company explained.

Initially, it was expected that trading in Curro shares on the JSE would be suspended from the commencement of trade on 26 November 2026.

Curro’s listing on the JSE was expected to be terminated from 2 December 2025, with the company going private.

On Tuesday, Curro said it would release a revised timetable as soon as possible, and it is solely dependent on feedback from the DTIC and approval from South Africa’s competition authorities.