Sanlam makes a BEE line to buy or to merge

15 March 2020 - 00:08 By HILARY JOFFE

Sanlam Investment Management (SIM) is set to buy or merge with a competitor in a bid to create a black-controlled asset manager that would be SA's largest, ahead of market leaders such as Coronation and Investec Asset Management (IAM).

Speculation in the market is that SIM could merge with Absa's asset management business in a deal that could also include Alexander Forbes, completing the package of black-empowerment transactions that Sanlam and Patrice Motsepe's African Rainbow Capital (ARC) announced more than a year ago...

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