The SA Competition Tribunal has approved Hollard’s purchase of Regent Insurance and Regent Life South Africa, from the Imperial Group. The purchase remains subject to Financial Services Board approval.
The initial deal was restructured to address concerns raised by the Competition Commission last year. The major impact of this restructuring, from a Hollard perspective, is that the VAPS sales and administration part of Regent’s business will no longer be sold to MotoVantage, but will be retained within the Imperial Group.
We are excited that this important milestone has been achieved, following the successful acquisition of Regent Botswana, Zambia and Lesotho in January. We believe that the end of this lengthy process is now firmly in sight, and will update you again once the deal is finalised.
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