Santam is set to increase its stake in Indwe Broker Holdings' capital from the current 24% to 100%.
To this end, the insurer intends to buy the remaining shares (76%) from African Rainbow Capital (ARC) Financial Services (51%) and Sanlam (25%), Santam's parent company. The transaction is valued at 125 million ZAR (8.3 million USD).
Read also | Sanlam Life & Pensions UK divests its business [4]
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[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fsantam-to-raise-its-stake-in-indwe-broker-holdings-to-100&text=Santam+to+raise+its+stake+in+Indwe+Broker+Holdings+to+100%25
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-185-november-2021
[4] https://www.atlas-mag.net/en/article/sanlam-life-pensions-uk-divests-its-business