santam buys back its shares

Insurer Sanlam said yesterday that its subsidiary Santam will buy back 10percent of its shares at R102 a share, and will sell 10percent to black investors. Sanlam also said that it would make an offer to buy any excess Santam shares tendered at the same price. Santam plans to sell the BEE stake to its black staff, broad-based community trusts and business partners. - Reuters

Insurer Sanlam said yesterday that its subsidiary Santam will buy back 10percent of its shares at R102 a share, and will sell 10percent to black investors. Sanlam also said that it would make an offer to buy any excess Santam shares tendered at the same price. Santam plans to sell the BEE stake to its black staff, broad-based community trusts and business partners. - Reuters

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