NCBA Group investors who take up shares of South African lender Nedbank in its cash-and-stock swap buyout offer will face a higher tax charge on dividends and risk of foreign currency losses when repatriating their earnings from Johannesburg.
Nedbank announced its tender offer for a 66 percent stake in NCBA last Wednesday, proposing to pay for 80 percent of the offered shares through a stock swap and the remaining 20 percent in cash at a rate of Sh2,100 for every 100 shares.
