{"id":60447,"date":"2024-02-02T15:55:15","date_gmt":"2024-02-02T15:55:15","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition"},"modified":"2024-02-02T17:02:05","modified_gmt":"2024-02-02T17:02:05","slug":"south-africas-biggest-insurer-plans-r6-5-billion-acquisition","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition","title":{"rendered":"South Africa\u2019s biggest insurer plans R6.5 billion acquisition"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Africa\u2019s biggest insurer Sanlam Limited, through its wholly-owned subsidiary Sanlam Life Insurance Limited (Sanlam Life), intends to buy a 100% shareholding of Assupol Holdings Limited for R6.5 billion.<\/p>\n

Life insurer Assupol is a 110-year-old insurance company listed on the Cape Town Stock Exchange CTSE.<\/p>\n

The proposed transaction, which will be implemented by way of a Scheme of Arrangement, follows the announcement last year that Budvest Proprietary Limited (Budvest), which holds 46.02% of Assupol\u2019s securities, as well as the International Finance Corporation (IFC), holding 19.41% of Assupol, want to dispose of their shareholdings.<\/p>\n

\u201cThis acquisition by Sanlam will not only strengthen Assupol\u2019s position in the market but also enhance our ability to continue providing exceptional value to our clients. We are excited about this new chapter and look forward to the benefits it will bring to both our employees and clients,\u201d Assupol Chairman, Dr Reuel Khoza, said.<\/p>\n

There are no expected changes to the operations of either company following Sanlam\u2019s offer, with Assupol\u2019s brand, which is recognised by four million lives insured in South Africa, will be preserved.<\/p>\n

There are no anticipated changes to the operations of either company arising from Sanlam\u2019s offer. Assupol\u2019s excellent brand and reputation, which is trusted and widely recognised with over four million lives insured in South Africa, will be preserved and further promoted.\u201cThe board of directors of Assupol, in accordance with Regulation 108 of the Takeover Regulations, constituted an independent board, considered the terms of the Sanlam offer. The independent board has resolved to recommend the offer to Assupol ordinary shareholders and the holders of the \u2018B\u2019 shares in Assupol,\u201d it said.<\/p>\n

\u201cThe implementation of the Scheme of Arrangement will be subject to the fulfilment or waiver, as the case may be, of conditions precedent, by 31 January 2025, including, Assupol shareholder, CTSE, the Takeover Regulation Panel, the competition authorities and all other relevant approvals for a transaction of this nature.\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Africa\u2019s biggest insurer Sanlam Limited, through its wholly-owned subsidiary Sanlam Life Insurance Limited (Sanlam Life), intends to buy a 100% shareholding of Assupol Holdings Limited for R6.5 billion. Life insurer Assupol is a 110-year-old insurance company listed on the Cape Town Stock Exchange CTSE. The proposed transaction, which will be implemented by […]<\/p>\n","protected":false},"author":84,"featured_media":60446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-60447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSouth Africa\u2019s biggest insurer plans R6.5 billion acquisition - South Africa<\/title>\n<meta name=\"description\" content=\"Africa\u2019s biggest insurer Sanlam Limited, through its wholly-owned subsidiary Sanlam Life Insurance Limited (Sanlam Life) ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa\u2019s biggest insurer plans R6.5 billion acquisition\" \/>\n<meta property=\"og:description\" content=\"Africa\u2019s biggest insurer Sanlam Limited, through its wholly-owned subsidiary Sanlam Life Insurance Limited (Sanlam Life) ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-02T15:55:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-02T17:02:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1706880580.735589.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"643\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa\u2019s biggest insurer plans R6.5 billion acquisition\",\"datePublished\":\"2024-02-02T15:55:15+00:00\",\"dateModified\":\"2024-02-02T17:02:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\"},\"wordCount\":339,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1706880580.735589.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africas-biggest-insurer-plans-r6-5-billion-acquisition\",\"name\":\"South Africa\u2019s biggest insurer plans R6.5 billion acquisition - 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