A consortium led by Sisa Ngebulana entered into an agreement to acquire 51% stake in Anchor Stockbrokers Proprietary Limited from Anchor Group Limited (JSE:ACG) on July 10, 2018. Anchor Stockbrokers Proprietary Limited generated revenue of ZAR 43 million and an operating profit of ZAR 5 million. Pursuant to the terms of agreement, Sisa Ngebulana will become the non-executive chairman of Anchor Stockbrokers. The transaction is subject to customary regulatory approvals. The transaction is expected to close in early 2019. Java Capital (Proprietary) Limited acted as designated financial advisor to Anchor Group. A consortium led by Sisa Ngebulana completed the acquisition of 51% stake in Anchor Stockbrokers Proprietary Limited from Anchor Group Limited (JSE:ACG) on November 30, 2018.