MEIKLES announced on Friday that its foreign subsidiary has accepted an offer from a third party to purchase its 35 percent interest in Mentor Africa, an insurance carrier.

The deal is however subject to conditions precedent being met, the company said.

“Accordingly, shareholders are advised to exercise caution in dealing with the company’s shares until a further announcement is made,” it added.

The group, which also recently unbundled and separately listed Tanganda Tea Company, is currently restructuring to “maximise shareholder value”.