Alexander Forbes Group Holdings Limited (JSE:AFH) has signed a binding agreement to acquire OUTvest Proprietary Limited from OUTsurance Holdings Limited on November 8, 2023. The effective date of the acquisition will be dependent on the fulfillment of all conditions precedent including regulatory approval and is expected to occur towards the end of March 2024. Alexander Forbes Group Holdings Limited (JSE:AFH) acquired OUTvest Proprietary Limited from OUTsurance Holdings Limited for ZAR 38 million on February 1, 2024. RM (Bob) Head was appointed as independent non-executive director of the board of OUTvest Proprietary Limited effective, 12 February 2024. The purchase was funded by the term loan facility.