JOHANNESBURG, Sept 20 (Reuters) - South Africa's Sanlam Ltd
will sell part of its UK business to investment firm
Oaktree Capital Management for 140 million pounds ($191.37
million), the company said on Monday, and funnel the capital
into emerging markets.
Under the agreement, Sanlam UK, a part of Sanlam, will sell
its 100% shareholding in Sanlam Private Investments (UK)
Holdings Limited and Sanlam Wealth Planning Holdings UK Limited
and their subsidiaries, the company said in a statement.
The move will help Sanlam "to simplify its UK operations and
reallocate capital to Africa and other selected emerging
markets."
The transaction is expected to be closed in the first
quarter of 2022, the insurer said.
($1 = 0.7316 pounds)
(Reporting by Promit Mukherjee; editing by David Evans)