Sanne to pay initial cash amount of 201.6m rand and deferred consideration of 74.7m rand depending on IDS Fund Services final audited statements for yr through Feb. 29.
* Acquisition of Cape Town-based IDS will be immediately earnings enhancing;
* Conditional on regulatory approvals, some corporate actions to transfer ownership and control to Sanne;
* Purchase will broaden Sanne’s alternative asset capabilities; offers “lower cost operational platform that can be leveraged across the group”;
* NOTE: S.Africa Hedge Funds Grew AUM to 62.1b Rand in 2015, Asisa Says. Source: Bloomberg