Absa in 'sell-off talks'

A combination of the Absa business with the Sanlam-owned equivalent would become one of SA's largest money managers

23 May 2021 - 00:06 By Agency Staff

Absa Group is in talks to sell part or all of its asset-management business to Africa's largest insurer, a deal that could create a firm with more than R900bn in assets, according to people familiar with the matter.

SA's third-largest lender is in discussions with both Sanlam and partner African Rainbow Capital Investments (ARC) about a deal, said the people, who asked not to be named because the discussions are private. No decision has been reached and an agreement may not be concluded, they said...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.