Lesaka Technologies, Inc. has announced that its subsidiary, Lesaka Technologies Proprietary Limited, has entered into an agreement to acquire 100% of Bank Zero Mutual Bank's issued ordinary shares. The acquisition will be settled through newly issued shares, giving Bank Zero shareholders approximately a 12% stake in Lesaka, and up to ZAR 91 million in cash. This transaction is valued at up to ZAR 1,091 million. Bank Zero's selling shareholders include Chairman Michael Jordaan and CEO Yatin Narsai, who will hold a collective 12% stake in Lesaka post-transaction. The transaction is expected to be accretive to Lesaka's shareholders, with Bank Zero anticipated to be profitable in the fiscal year following the completion. Further financial details will be provided with Lesaka's fiscal year results on or around September 4, 2025. Michael Jordaan highlighted the strategic alignment and future value creation from the combined digital banking and fintech capabilities.
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