Sanlam Ltd (JSE:SLM)

R 88.79 0.26 (0.29%) Market Cap: 182.96 Bil Enterprise Value: 170.25 Bil PE Ratio: 11.36 PB Ratio: 2.07 GF Score: 82/100

Sanlam Ltd Acquire a Non-Controlling Minority Shareholding in ARC Financial Services subsidiary Call Transcript

Dec 18, 2020 / 02:00PM GMT

Release Date Price: R58.6 (+1.95%)

Transcript

Operator

Good day, ladies and gentlemen, and welcome to the Sanlam Investor call. (Operator Instructions) Please note that this call is being recorded. I'd now like to turn the conference over to Paul Hanratty. Please go ahead, Paul.

Paul Brendan Hanratty

Sanlam Limited - Group CEO & Director

Thanks very much, Claudia, and good afternoon, ladies and gentlemen, and thank you very much for joining us on this conference call right towards the end of December, when I know you all want to be on leave. I'm joined today on the call by Abigail Mukhuba, Lotz Mahlangeni and Grant Davids. Abigail is our CFO; Lotz our Chief Actuary and Chief Risk Officer; and Grant Davids, the Head of Investor Relations at Sanlam.

Today, we announced that agreement was reached with African Rainbow Capital Financial Services, short, ARC FS, whereby Sanlam would acquire a 25% noncontrolling minority shareholding in a wholly owned subsidiary of ARC Financial Services, known as ARC Financial Services subco, subject to the fulfillment of certain suspensive conditions.

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