Absa could get up to R3bn by selling its asset management ar

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To Sanlam and African Rainbow Capital Investments.
By Justin Brown, Citywire
2 Jun 2021 
16:16 
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Image: Waldo Swiegers/Bloomberg
Rand Merchant Bank Morgan Stanley (RMBMS) has calculated that Absa could garner billions of rand by selling its asset management arm.
Last month, Bloomberg reported Absa was in talks to sell Absa Asset Management (AAM) to Sanlam and Patrice Motsepe’s African Rainbow Capital Investments (ARCI). Absa, Sanlam and ARCI all declined to comment on that report.
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