Announced
Financials
Sources
Tags
Pending
Joint Venture
Diversified Financials
South Africa
Majority
Private
Cross Border
financial services
Single Bidder
Friendly
Synopsis
Sanlam, the largest non-banking financial services company in Africa, and Allianz, a German multinational financial services company, agreed to form a joint venture to create the largest Pan-African non-banking financial services entity on the continent. Financial terms were not disclosed. "In line with Sanlam’s stated ambition to be a leading Pan-African financial services group, the proposed joint venture will enable us to take a significant step towards realising that ambition. It will also strengthen our leadership position in multiple key markets that are core to our Africa strategy, building quality and scale where it matters. We are delighted to have Allianz as partners and believe their expertise and financial strength will add tremendous value to our businesses," Paul Hanratty, Sanlam CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.