Sanlam to acquire 12.3% stake in Ninety One for ZAR5bn.

Sanlam, a South African insurance company, agreed to acquire 12.3% stake in Ninety One, an Anglo-South African asset management business, for ZAR5bn. “Sanlam is pleased to partner with a like-minded business with a shared South African heritage, proven global expertise and a reputable brand. By leveraging our complementary competencies, Sanlam Investments will be strengthening its South African and global position as a multi-skilled asset manager. Coupled with Sanlam Investments’ market-leading expertise in passive and alternative asset classes, as well as multi-managed solutions, the relationship is set to unlock value for its clients, distribution force and shareholders,” Paul Hanratty, Sanlam Group CEO.