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Sanlam buys 49pc of Pacific & Orient Insurance

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Sanlam buys 49pc of Pacific & Orient Insurance

Post by hlk Tue 21 May 2013, 12:07

Sanlam, a South African financial
services group, is making a foray into Southeast Asia's insurance
industry via the acquisition of a 49% stake in Pacific & Orient
Insurance Co Bhd (POI). Last Friday, the company announced that it had
concluded the acquisition of the 49% stake in the Malaysian niche
short-term insurer, POI, for RM270m. The transaction is being executed
by Sanlam Emerging Markets, the business cluster responsible for Sanlam
group's international expansion into selected emerging markets. (Btimes)

hlk: Moderator; Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia

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