FBN Holdings Completes the Sale and Transfer of 65% Holdings in FBN Insurance Ltd to Sanlam


Tuesday, June 02, 2020 / 11:18 AM / NSE / Header Image Credit: FBN Holdings 

The Boards of Directors of FBN Holdings Plc (“FBNH”) and Sanlam Emerging Markets (Proprietary) Limited (Sanlam) wish to announce the completion of the sale and transfer of FBNH's 65% shareholding in FBN Insurance Limited to Sanlam.

This effectively confers full ownership of FBN Insurance Limited (Life) and its subsidiary, FBN General Insurance Limited on Sanlam forthwith, following receipt of all relevant regulatory approvals.

Both organisations had activated the Shareholders Agreement which provided pre-emptive rights to Sanlam.

Accordingly, and as had been indicated in the Share Purchase Agreement, the effective date of the divestment is June 01, 2020.

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