Staff Writer
Global asset manager Ninety One expects to complete the South African leg of its acquisition of Sanlam Investment Management Proprietary Limited this week.
This marks the start of a long-term strategic relationship with the Sanlam Group.
The transaction follows joint announcements made by Ninety One and Sanlam in November 2024 and March 2025, when the two groups outlined plans to form a long-term active asset management partnership.
The deal involves Ninety-One Limited acquiring all the shares in Sanlam Investment Management and formally launching an initial 15-year strategic relationship with Sanlam once the transaction is completed.
As part of the transaction, Ninety One will issue new shares to Sanlam entities.
Sanlam Investment Holdings Proprietary Limited will receive 32.83 million ordinary shares in Ninety-One plc and 66.59 million ordinary shares in Ninety One Limited.
Sanlam Life Insurance Limited will also receive 12.59 million ordinary shares in Ninety-One plc.
Applications have been submitted for the Ninety-One plc consideration shares to be admitted to trading on the London Stock Exchange’s main market and to be listed and traded on the Johannesburg Stock Exchange (JSE).
The Ninety One Limited shares issued under the transaction will also be listed and traded on the JSE.
Admission of the new shares is expected to take place this week, in line with the anticipated completion of the South African transaction.
The deal stems from a binding framework agreement announced by the two companies a year ago in a stock exchange notice.
Under the agreement, Sanlam will appoint Ninety One as its primary active investment manager for single-managed local and global products.
Both companies operate in Namibia. Ninety One was established in South Africa in 1991 and manages active investment portfolios for third-party clients.
The firm has expanded from its emerging market roots to build a global presence.
Hendrik du Toit, Ninety One founder and chief executive officer, said last year that the company was looking forward to a long and productive relationship with Sanlam, which he described as a business with a strong brand and significant scale in South Africa.
Founded in 1918, Sanlam is Africa’s largest non-banking financial services group.
It is listed on the Johannesburg Stock Exchange, the Namibian Stock Exchange (NSX) and A2X Markets Limited. Sanlam operates in 31 countries, including eight of Africa’s ten largest economies, and offers life and general insurance, health, financial planning, retirement, investment, wealth management and credit solutions to institutional and retail clients.
Caption
Ninety One expects to complete the South African leg of its acquisition of Sanlam Investment Management Proprietary Limited this week.
- Photo: Contributed
