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Chesnara plc announced on 13 September 2021 the proposed acquisition of Sanlam Life & Pensions UK Limited for £39m. The Company confirmed on 08 April 2022 that this proposed acquisition has received UK regulatory approval.
| Date | 8 Apr 2022 |
| Time | 07:00:02 |
| Category | Acquisitions and alliances |
| ID | 6995H |
LEI Number: 213800VFRMBRTSZ3SJ06
08 April 2022
ACQUISITION UPDATE
REGULATORY APPROVAL
Chesnara plc ('The Company') announced on 13 September 2021 the proposed acquisition of Sanlam Life & Pensions UK Limited for £39m.
The Company is pleased to announce that the proposed acquisition has received UK regulatory approval and work will now progress with a view to completing in the coming weeks.
For further information, please contact:
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara is a life and pensions company listed on the London Stock Exchange. It administers approximately 960,000 policies and operates as Countrywide Assured in the UK, as The Waard Group and Scildon in the Netherlands, and as Movestic in Sweden.
Following a three pillar strategy, Chesnara's primary responsibility is the efficient administration of its customers' life and savings policies, ensuring good customer outcomes and providing a secure and compliant environment to protect policyholder interests. It also adds value by writing profitable new business in Sweden and the Netherlands and by undertaking value-adding acquisitions of either companies or portfolios.
Consistent delivery of the Company strategy has enabled Chesnara to increase its dividend for 17 years in succession.
Further details are available on the Company's website (www.chesnara.co.uk).