L isted private school group Curro has announced to shareholders that all suspensive conditions for takeover by billionaire Jannie Mouton’s Foundation have been met, making the deal unconditional.

This paves the way for the acquisition to be completed, with Curro announcing a more detailed timeline in due course.

“Curro is pleased to confirm that all of the Suspensive Conditions, as outlined in the Circular, have now been fulfilled or waived, where permitted, as the case may be, and that the Proposed Transaction has accordingly become unconditional,” it said.

“Consequently, Curro will proceed with the implementation of the Proposed Transaction once the TRP issues the requisite compliance certificate, which is anticipated to be received on or about Monday, 22 December 2025.”

Following receipt of the compliance certificate, Curro will publish the finalisation announcement, containing the remaining salient dates and times for implementation of the Proposed Transaction.

The deal becoming unconditional is a big step in the process and follows Mouton’s Foundation receiving approval from the Competition Commission to acquire the group at the end of November.

The transaction will see the Foundation acquire Curro in a deal worth R7.2 billion.

The commission recommended that the transaction be approved, subject to undertakings that the new organisation will make a substantial positive contribution to education.

This includes providing greater access to historically disadvantaged persons (HDPs).

Through the deal, the Foundation will provide existing shareholders with a minor cash consideration, as well as shares in Capitec and PSG Financial Services.

The completion of the deal will mark the end of Curro as a publicly traded private school group, as it will delist from the JSE and move forward as a bona fide public benefit organisation (PBO).