Ninety One wraps up South African component of deal with Sanlam

ALN

Ninety One PLC and Ltd and Sanlam Ltd said on Monday NinetyOne’s acquisition of Sanlam Investment Management Pty Ltd has cleared all hurdles.

This transaction is part of the South African component of Ninety One’s agreement with Sanlam.

Ninety One said on Friday last week the South African component involved the acquisition by Ninety One Ltd of all the shares in Sanlam Investment Management and the creation of the initial 15-year strategic relationship between Ninety One and Sanlam.

In the terms of the South African Transaction, Ninety One issued 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 a joint statement on Monday, Ninety One and Sanlam said the SA transaction became unconditional and closed on Monday.

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 dropped 0.5% to 251.60 pence on Monday. In Johannesburg, Ninety One Ltd shares eased 0.9% to R 54.79, and Ninety One PLC shares were down 1.6% to R 54.95.

In Johannesburg, Sanlam shares were up 3.6% to R 104.53, however.

Copyright 2026 Alliance News Ltd. All Rights Reserved.