Sanlam to Acquire Absa Consultants & Actuaries for 285m Rand

Sanlam Life Insurance to buy 100% of Absa Consultants & Actuaries Proprietary from Absa Financial Services for 285m rand, company says in emailed statement.

* Transaction subject to certain conditions precedent including regulatory approvals;
* NOTE: ACA houses employee benefits of Absa Group and provides consulting and administration to retirement funds in South Africa; has 119 funds with 339,614 members and assets of about 84b rand. Source: Bloomberg