Chesnara PLC (LSE:CSN) said it has received UK regulatory approval for its proposed £39mln acquisition of insurance and long-term savings products provider Sanlam Life & Pensions UK Ltd.
The life assurance and pensions specialist said it now aims to complete the deal in the coming weeks.
The acquisition, which was first announced in September last year, will add around £2.9bn of assets under administration and roughly 80,000 policies to Chesnara’s portfolio.
WATCH: Chesnara 'expands size of UK business as consolidator' with Sanlam Life & Pensions UK Limited