The plan for the acquisition by the Sanlam group of an additional 22.8% stake in Saham Assurance Maroc has lapsed, the company announced.
“Regarding the proposed acquisition by the Sanlam group of an additional 22.8% stake in Saham Assurance Maroc which was the subject of the press release dated May 3, 2021, Shareholders are informed that the conditions precedent to the Operation has not been completed and the Operation is, therefore, void, ”Saham Assurance said in a statement.
The Sanlam group’s stake in Saham Assurance Maroc remains at 61.7%, the same source said.
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