The law firm Slaughter & May is one of the advisers to the Allianz joint venture in Africa.

Two of Britain’s Magic Circle companies have won roles alongside South African heavyweight Webber Wentzel in international insurance and asset management giant Allianz’s €2bn joint venture with Sanlam, the largest non-banking financial services company in Africa.

The two companies are combining their current and future operations across Africa to create the largest pan-African non-banking financial services entity on the continent, according to the companies’ announcements.

Webber Wentzel and Allen & Overy are advising Sanlam on the deal.

Webber Wentzel partner Annabel Parry said she led the firm‘s team advising Sanlam on this matter, with the team also including partners Daryl Dingley, Warren Drue, Johannes Smit, Hafiesa Samsodien, Shirleen Ritchie, Anne Bennett , Christo Els, Johan Henning, Kent Davis. and Sarah Manley.

Allen & Overy advises Sanlam on English law matters, according to a statement regarding the Johannesburg Stock Exchange deal.

Sources familiar with the situation said Slaughter & May was advising Allianz on the matter, with a team led by partner Craig Cleaver.

The Allianz and Sanlam joint venture will encompass the business units of both companies, initially operating in 29 countries across the African continent, according to the Allianz statement.

The chairmanship of the joint venture partnership will rotate every two years between Sanlam and Allianz, and the entity’s CEO will be appointed in due course, according to its statement.

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