Why does Sanlam Insurance sell its UK wealth branch to Oaktree Capital?

London , United Kingdom (CU)_ South Africa’s leading insurer Sanlam Ltd is all set to sell its UK wealth branch for £140 million to the private equity firm Oaktree Capital Management. According to the agreement, Sanlam UK’s 100 percent shareholding in Sanlam Private Investments (UK) Holdings Limited, Sanlam Wealth Planning Holdings UK Limited, and their subsidiaries will be acquired by Oaktree Capital. According to the media, the deal is in compliance with the insurer’s plan to…