Said Alj to step down from the presidency of Saham Assurance Maroc after selling his shares to Sanlam
By cashing in €116 million from the South African financial group, the Moroccan tycoon has access to the means to develop and strengthen his hold on agribusiness, consumer credit and heavy machinery companies.
05/05/2021 at 22h21, by Africa Business+
Sanlam Limited acquired a majority stake in March 2018, in the third-largest insurer in the Moroccan Kingdom for $1.1 billion, and appointed Christophe Buso as CEO. Earlier this week, the South African insurer said that it had agreed to pay 1.24 billion dirhams (€116 million) to take over the 22.8% held by Sanam Holding and its subsidiary, First Commercial Estate Company.
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