Outcome of mergers decided by the Tribunal - 29 May 2023

The Tribunal has unconditionally approved the proposed transactions whereby:

1. Sanlam Life Insurance Ltd (“Sanlam”) intends to acquire shares in Capital Legacy Solutions (Pty) Ltd ("Capital Legacy”); and
2. ARC Financial Services Investments (Pty) Ltd ("ARC”), a non-controlling shareholder in Capital Legacy, intends to acquire negative control in Capital Legacy.

The Sanlam Group is a financial services firm that provides, among others, life and general insurance; financial planning; and retirement, investment and wealth management services.

The ARC Group invests in firms that are active in the financial services sector including banking, asset management, insurance and specialist financial services businesses.

The Capital Legacy Group provides estate administration, trust administration, fiduciary services and insurance products across South Africa.

Issued by:

Gillian de Gouveia, Communications Manager
On behalf of the Competition Tribunal of South Africa
Cell: +27 (0) 82 410 1195
E-Mail: GillianD@comptrib.co.za
Twitter: @comptrib