LONDON (Thomson Financial) - BP Marsh & Partners PLC said it has sold its
stake in Principal Investment Holdings Ltd to South African insurance and
financial services company, Sanlam for 7.4 mln stg.
The company said it plans to use the proceeds from the sale to fund new
investments, two of which have already been identified and are currently
undergoing due diligence.
It expects the deal to complete on March 14.
Additionally, the company may be entitled to a further deferred capital
payment of about 1.4 mln stg, BP Marsh said.
TFN.newsdesk@thomson.com
ash/cw
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