Anchor Group Limited (JSE:ACG) acquired 50% stake in M Jurgens Financial Services Proprietary Limited from Mark Jurgens for ZAR 49.5 million on January 1, 2020. Under the terms, ZAR 44.5 million will be paid on signature of agreement and ZAR 5 million will be held in escrow by an escrow agent as security for any purchase price adjustment. In the event that the 12% CAGR for M Jurgens is not achieved, the purchase price in respect of the sale shares shall be adjusted downwards and the adjustment amount will be received from the escrow amount and the balance shall be released to the seller. There will be no price adjustment upwards if M Jurgens exceeds the warranted CAGR. In a related transaction, Anchor Group Limited agreed to acquire a further 13% stake in M Jurgens Financial Services Proprietary Limited for not more than ZAR 49.5 million. This acquisition will be dependent on the net after tax profit earned by M Jurgens during the financial year ending December 31, 2022. The net after tax profit earned by M Jurgens during the 12-month period ending December 31, 2019 is ZAR 12.38 million. All conditions precedent in the agreement have been fulfilled. Java Capital acted as financial advisor for Anchor Group. Anchor Group Limited (JSE:ACG) completed the acquisition of 50% stake in M Jurgens Financial Services Proprietary Limited from Mark Jurgens on January 1, 2020. Anchor will acquire a further 13% of M Jurgens on 1 January 2023 based on the net after tax profit.