Sanlam, ARC tie-up remains on the agenda
There is an agreement for ARC to take a stake in Sanlam Investment Management that was drawn up more than five years ago
Johan van Zyl, co-CEO of African Rainbow Capital Investments, known as ARC, describes the prospect of his group taking a stake in Sanlam's asset management business as just an idea at present, but he admits it is one both parties have been pondering for some time. There is an agreement for ARC to take a stake in Sanlam Investment Management (SIM) that was drawn up more than five years ago, he said. To take the deal forward requires that each party meet certain criteria. One factor "is to investigate whether it is feasible to have ARC as a partner in the investment management [business]. We have done this [investigation] two or three times over the past years and we could not get to an agreement," Van Zyl said. He did not specify what the other stumbling blocks weLLre. The prospective deal is still under discussion, along with number of other deals, Van Zyl said. Questions about it were similar to those he had to field during his tenure as Sanlam CEO about Sanlam's acquisition of San...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.