Shareholders are referred to the announcements released on the Stock Exchange News Service of the JSE Limited on 4 May 2022 and 5 September 2023, in which it was advised that Sanlam and Allianz SE (“Allianz”) had entered into a long-term strategic joint venture arrangement regarding their operations on the African continent, outside of South Africa (the “JV Transaction”). In terms of the JV Transaction, Sanlam and Allianz contributed their respective African operations into a newly incorporated joint venture company, Sanlam Allianz Africa Proprietary Limited (“SanlamAllianz”) on 4 September 2023. Sanlam’s operations in Namibia were contributed to SanlamAllianz in October 2024. Shareholders were previously advised that as part of the JV Transaction, Allianz would also have the option to increase its shareholding in SanlamAllianz to a maximum of 49% (the “Allianz Step-up Transaction”).
The board of directors of Sanlam is pleased to advise Sanlam shareholders that Sanlam, through its wholly owned subsidiary Sanlam Emerging Markets (Pty) Ltd (“SEM”), and Allianz Europe BV (“Allianz BV”), a wholly owned subsidiary of Allianz, have concluded definitive transaction agreements in respect of the Allianz Step-up Transaction.
