Sanlam and Absa conclude deal to create R1-trillion black-owned asset manager
New company will use the distribution networks of Sanlam and Absa to sell their investment products
01 December 2022 - 15:01
Sanlam and Absa said all suspensive conditions have been met in their agreement to combine their local investment management businesses, paving the way for one of SA’s largest black-owned asset managers.
The deal, first announced in October 2021, will create a black-owned investment manager with more than R1-trillion in assets under management (AUM), and comes as the financial services sector is under pressure from regulators for being slow to transform...
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