Capital Group, one of the world's leading investment management organizations, has announced a substantial acquisition of a 5.0054 percent stake in Discovery Limited, a Sandton-based financial services group led by South African businessman Adrian Gore.
The acquisition, valued at $250.4 million, marks a strategic move for Capital Group, a Los Angeles-based financial services company, which manages over $2.6 trillion in assets globally, and ranks among the world's oldest and largest investment management organizations.
Strategic investment aligns with growth strategyThe formal disclosure , made public on Tuesday, August 6, highlights Capital Group's commitment to investing in firms with robust business models and significant growth potential.
Discovery, under Adrian Gore, is recognized for its innovative approach to healthcare and financial services. This acquisition underscores Capital Group's strategic focus on the financial services sector while adhering to South Africa's regulatory guidelines.
