M&A Deal Summary

Sanlam Acquires Saham Finances S.A.

On November 24, 2015, Sanlam acquired insurance company Saham Finances S.A. from The Abraaj Group

Acquisition Highlights
  • This is Sanlam’s 1st transaction in the Insurance sector.
  • This is Sanlam’s 1st transaction in Morocco.

M&A Deal Summary

Date 2015-11-24
Target Saham Finances S.A.
Sector Insurance
Buyer(s) Sanlam
Sellers(s) The Abraaj Group
Deal Type Add-on Acquisition

Target

Saham Finances S.A.

Casablanca, Morocco
SAHAM Finances is an insurance group with operations in 26 countries across North, West and East Africa, and the Middle East. It predominantly writes personal lines general insurance business (exceeding 80% of its portfolio), but is in the process of diversifying this. SAHAM Finances has approximately 61 subsidiaries, a network of 700 branches and a staff complement of more than 3,000 people. SAHAM Finances has a leading market share in many of the markets in which it operates.

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Buyer(S) 1

Buyer

Sanlam

Bellville, South Africa

Category Company
Founded 1918
Sector Insurance
Employees23,926
Revenue 227.8B ZAR (2024)
DESCRIPTION

Sanlam is a life insurance company in South Africa but has since transformed into a diversified financial services group operating across Africa, India, and selected other emerging and developed markets, with listings on the Johannesburg, A2X, and Namibian stock exchanges. Sanlam was founded in 1918 and is based in Bellville, South Africa.


DEAL STATS #
Overall 3 of 4
Sector: Insurance M&A 1 of 2
Type: Add-on Acquisition M&A Deals 3 of 3
Country: Morocco M&A 1 of 2
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-01 Capital Properties

Dar es Salaam, Tanzania

Capital Properties comprises three office blocks on a single prime site in Dar es Salaam.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 Saham Group SA

Casablanca, Morocco

Saham Group SA is a provider of insurance, customer relationship assistance, healthcare, and real estate business activities in Africa and the Middle East. Saham Group is conscious of its economic and social responsibility; it initiates and implements ambitious development projects in Africa through its corporate foundation. It strives to strengthen equal opportunity via two principal programs to encourage entrepreneurship and to improve access to healthcare.

Buy -

Seller(S) 1

SELLER

The Abraaj Group

Dubai, United Arab Emirates

Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.


DEAL STATS #
Overall 20 of 31
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 10 of 14
Country: Morocco M&A 1 of 1
Year: 2015 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-30 Tiba Group

Cairo, Egypt

Tiba Group is a provider of ducation service and operates across three verticals and through seven educational institutions in Egypt.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-29 Network International Holdings

Dubai, United Arab Emirates

Network International comprises of a group of companies and is a leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services. Network International was founded in 1994 and is based in Dubai, United Arab Emirates.

Sell -