Sanlam to increase its stake in Saham Assurance Maroc

The South African insurer Sanlam is increasing its stake in the capital of its Moroccan subsidiary Saham Assurance from 61.7% to 84.5%.

The operation consists in the acquisition of 22.8% of shares from Sanlam Holding for an amount of 1.241 billion MAD (137.2 million USD).

The transaction is still pending the approval of the Moroccan and South African regulatory authorities.