|
Ninety One PLC and Ltd said on Friday it expects to complete its acquisition of Sanlam Investment Management Pty Ltd on Monday next week, as part of South African component of the transaction with Sanlam Ltd. The London and Cape Town-based money manager said the South African component involves the acquisition by Ninety One Ltd of all of the shares in Sanlam Investment Management and the creation of the initial 15-year strategic relationship between Ninety One and Sanlam. The strategic relationship will start on completion of the South African transaction, Ninety One said. In the terms of the South African Transaction, Ninety One will issue 32.8 million Ninety One PLC shares to Sanlam Investment Holdings Pty Ltd; 66.6 million Ninety One Ltd shares to Sanlam Investment Holdings Pty Ltd; and 12.6 million Ninety One PLC shares to Sanlam Life Insurance Ltd. In June last year, Ninety One said the transfer of Sanlam Investments UK Ltd’s active asset management business to Ninety One UK Ltd had been completed. The UK transaction saw Ninety One UK appointed as the primary active asset manager for a specified portion of Sanlam Investments UK’s assets under management. Ninety One also said Ninety One PLC had issued 13.7 million consideration shares to Sanlam Investments UK, as part of the UK transaction. Back in November 2024, Ninety One and Sanlam announced they had reached an agreement for Sanlam to appoint Ninety One as its primary active investment manager. Under the terms of the agreement, Ninety One would acquire all the issued shares in Sanlam Investment Management Pty Ltd, an active investment management business wholly owned by Sanlam Investment Holdings Ltd, in which the Sanlam holds an effective 65.6% interest. Ninety One shares in London fell 0.3% to 257.00 pence on Friday morning. In Johannesburg, Ninety One Ltd shares were down 1.0% to R 55.72, and Ninety One Plc shares were 0.2% lower at R 56.41. In Johannesburg, Sanlam shares was up 0.8% to R 105.19. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
