Wendel enters in group saham's capital

Talks between Wendel and Saham resulted in the entry of French investment company in the capital of the Moroccan group. As a first step, Wendel will acquire 13.33% of the Moroccan holding’s capital company for 100 million EUR (137 million USD).

These funds will help the expansion of the Group's insurance subsidiaries in Africa and the Middle East. Wendel will take part in the decision-making process by joining the board of directors. Saham operates in 19 countries in Africa and the Middle East through 34 subsidiaries. The insurance division reported a turnover of 885 million USD in 2012.

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