Financial advisory group DeVere is selling its business in South Africa to Brite Advisors.
A DeVere spokesperson confirmed to International Adviser that the firm “has agreed the sale of DeVere South Africa following a difficult period”.
“We believe the sale is in the best interests of clients and will enable DeVere to implement its ambitious 2020 expansion plans.”
No further details were provided.
This is the second DeVere sale to hong Kong-based Brite, which acquired all of its US operations for an undisclosed sum at the end of 2018.