P&O

Sources say One of South Africa’s largest financial services provider, Sanlam, is eyeing a substantial a stake of up to 49% in P&O insurance business.

 

Sanlam is exploring a price tag of over two times the net asset of the company and is targeting to submit documentation for BNM’s approval in Sept 2012.

 

Should Sanlam successfully acquire a stake in P&O’s insurance bsiness, it would be its first foray into the region. As for P&O, it is not the first time the local insurer has caught the eye of foreign players.

 

P&O’s insurance business will give investors direct access to the motorcycle business, where the insurer has the largest market share.