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. “This agreement will give us the opportunity, as leaders in our respective markets, to create additional value for our stakeholders. We are making a substantial investment in the future of South Africa,” Hendrik du Toit, Ninety One Founder and CEO.