Saham Finances Participations made an offer to acquire 20.01% stake in Saham Assurance SA (CBSE:SAH) for MAD 1.2 billion on October 15, 2018. As part of consideration, Saham Finances Participations will pay MAD 1,450 per share of Saham Assurance. Post the transaction, the stake held by the parties acting with Saham Finances Participations, namely, Sanlam Emerging Markets Ireland, Saham Finances, Saham SA (Saham Insurance) and Saham Finances Participations directly and indirectly will increase from 58.5% to 78.5%. The offer will remain open from January 8, 2019 till January 17, 2019. The transaction has been approved the Moroccan Capital Market Authority. Saham Finances Participations completed the acquisition of 3.24% stake in Saham Assurance SA (CBSE:SAH) for approximately MAD 190 million on January 17, 2019. Under the offer, 0.13 million shares of Saham Assurance were tendered.