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Santam’s purchase of Absa’s short-term insurance business approved in South Africa

( June 29, 2016, 08:15 GMT | Official Statement) -- MLex Summary: Santam’s proposed purchase of AIC Intermediated Commercial Lines Business has been approved in South Africa. The Competition Commission said Santam’s acquisition of AIC’s commercial-insurance business would raise no competition concerns. AIC Intermediate Commercial Lines Business is a subsidiary of Absa Insurance. The deal will now be forwarded to the Competition Tribunal for a final decision.The full text of the statement is below:...

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