South African insurer Sanlam eyes deals in India, Africa - report.

By bne IntelliNews June 10, 2011
South African insurer Sanlam is pursuing potential deals to be financed from its ZAR 3bn discretionary cash pile, the Business Day newspaper reported. We have earmarked ZAR 3bn (USD 446mn) at the end of 2010 in future growth, predominantly in India and Africa, the company's CEO, Johan van Zyl, was quoted as saying. According to the report, Sanlam's discretionary capital is the excess capital that is freely available for investment or distribution to shareholders without affecting normal business conditions. We are not rushing to get rid of the money because we want to make a deal that makes sense, the executive was cited as saying.

Related Articles

South Africas Exxaro mulls firing striking coal miners.

South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more

South Africas Telkom says there is no decision to lay off 13,000 employees.

South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more

BP, Masana Petroleum Solutions sell LPG business in South Africa.

Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335