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Sanlam UK backs landmark R3 billion transaction
By Sandile Mchunu
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JOHANNESBURG - SANLAM UK, the JSE-listed financial services group s indirectly held subsidiary, indicated yesterday that it would back the £144.62 million (almost R3 billion) deal between James Hay Holdings and investment platform business Nucleus Financial Group.
This comes after Nucleus said it had reached an agreement for an allcash offer by James Hay Holdings for an offer of 188 pence per Nucleus share, which represents a premium of roughly 41.89 percent to the closing price per Nucleus share of 132.5p on December 1, 2020, being the last business day before the commencement of the offer period.
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