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Key Points
- Transaction Capital plans to sell non-core assets, including Nutun Holdings, to Q Link Holdings for up to R510 million ($28.2 million).
- The sale, expected to improve liquidity and strengthen Nutun’s financials, awaits regulatory approvals and internal clearances.
- The sale does not require shareholder approval and follows Transaction Capital’s recent unbundling of WeBuyCars.
Transaction Capital, a leading financial services group led by South African business executive Jonathan Jawno, has revealed plans to sell its non-core assets to fintech and financial services firm Q Link Holdings.
The assets for sale include Nutun Holdings, Nutun Transact, Accsys, and Nutun Credit Health (NCH).
The transaction, valued at up to R510 million ($28.2 million), is expected to enhance liquidity and strengthen Nutun’s financial position. It is contingent on standard adjustments, regulatory approvals, and internal clearances, with completion anticipated once these conditions are met.
No approval needed for sale
The sale does not require shareholder approval under JSE Listings Requirements. Transaction Capital has committed to providing updates as the transaction progresses.
This strategic divestiture follows Transaction Capital’s recent unbundling of WeBuyCars, which also was deemed a non-core asset. Previously, the group held significant stakes in Mobaylz (SA Taxi and Gomo), WeBuyCars, and Nutun.
Transaction Capital’s financial focus
Transaction Capital, a South African financial services group specializing in asset-backed lending and niche risk services, operates in South Africa and Australia as a non-deposit financial services company.
Jawno, a founding member of Transaction Capital, owns a 9.59-percent stake in the group. His stake, which translates to 72,667,000 ordinary shares, makes him the group’s second-largest shareholder, trailing only Public Investment Corporation — Africa’s largest fund manager.
Earlier this year, Transaction Capital listed its WeBuyCars unit on the JSE under the ticker “WBC.” The move is seen as part of the company’s broader strategy to unlock shareholder value and further entrench WeBuyCars in the competitive used-car market.
