MultiChoice has announced that the sale of a 60% stake in its insurance business to Sanlam will take effect at the end of the month.
MultiChoice has announced that the sale of a 60% stake in its insurance business to Sanlam will go through on 30 November 2024.
Sanlam will pay MultiChoice an upfront cash consideration of R1.2 billion for its stake in NMS Insurance Services . It also said that it retains a substantial 40% stake in the business, allowing it to continue benefiting from this segment’s high growth potential while maximising value for its shareholders.
“Sanlam will leverage MultiChoice’s engagement channels and integrated payment collection capabilities to deliver these broader offerings to MultiChoice’s subscribers.”“This collaboration with Sanlam is a strategic milestone for MultiChoice,” said MultiChoice CEO Calvo Mawela.
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