Allianz Europe BV to increase its stake in SanlamAllianz

Allianz Europe BV has signed an agreement with Sanlam to increase its shareholding in SanlamAllianz to 49%.

Under the terms of the transaction, Sanlam Emerging Markets (SEM), a subsidiary of Sanlam, will sell 8.59% of its stake in SanlamAllianz to Allianz Europe BV for 4.5 billion ZAR (241.7 million USD).

Upon closing of the transaction, SEM and Allianz Europe BV will respectively hold 51% and 49% of the capital of SanlamAllianz, an entity created in September 2023 as a result of the merger of the two groups' activities in Africa (excluding South Africa).