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Sanlam buys additional 23% stake in Saham

Posted On: May. 4, 2021 9:41 AM CST



South Africa-based insurer Sanlam Ltd. has agreed to acquire a 22.8% stake in Morocco-based Saham Assurance SA for 1.98 billion South African rand ($137 million) from its Moroccan partner Said Alj and two entities related to him, Middle East Insurance Review reported. The transaction, which is subject to regulatory approvals, will increase Sanlam’s stake in Saham to 84.5%.

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