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Sanlam Ltd to Acquire 49% Stake in Pacific and Orient Insurance Co for ZAR 760.00 Million


Sunday, 9 Dec 2012 07:00pm EST 

Sanlam Ltd announced that it has executed all agreements to acquire a 49% stake in Pacific and Orient Insurance Co (POI), which is a Malaysian short term insurer, and that the completion of the transaction is subject to the fulfillment of certain conditions, including the approval for the transaction by the shareholders of POI's holding company Pacific & Orient Berhard (P&O). The purchase consideration for the 49% stake in POI is Malaysian Ringgit (MYR) 270.00 million (approximately ZAR 760.00 million). Sanlam Ltd also announced that the transaction is in line with the Company's stated strategy to pursue growth opportunities in selected emerging markets and that it represents Sanlam Ltd's step into the South East Asia region. 

Company Quote

7283.0
182.0 +2.56%
21 Nov 2014