A PYMNTS Company

South Africa: Approved purchase of majority stake in insurer paves way for restructuring

By  |  January 4, 2013
South Africa: Approved purchase of majority stake in insurer paves way for restructuring

According to reports, South Africa’s Competition Authority has will allow Sanlam Limited to acquire a majority stake in Pan Africa Insurance, a move that will allow the South Africa-based financial services company to restructure Pan Africa Insurance, based in Kenya. Sanlam is looking to acquire 60 percent Pan Africa, up from the 50 percent it already owns. The deal will reportedly be made for more than $1 million.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Business Daily

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.