Insurance company Sanlam acquires an additional 22.8% interest in Morocco’s Saham Assurance

MOROCCO – Sanlam, a South African insurance giant, has added a 22.8% interest in Morocco’s Saham Assurance Maroc in a deal worth US$137.1 million (MAD1.2bn). The deal sees Sanlam subsidiary SAN JV (RF) Proprietary (SAN JV) raise its direct and indirect stake in the Moroccan property and casualty insurer. SAN JV will buy the shares from Moroccan business tycoon Said Alj and two of his associated entities – Sanam Holdings and First Commercial Estate Company. The transaction will raise SAN JV raise its holding in Saham to 84.5%. The deal,…

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