JOHANNESBURG Feb 24 South Africa's Liberty
Holdings will acquire a 75 percent stake in a Nigerian
long-term insurer for 160 million rand ($12 million), the
company said on Friday, pursuing its strategy of expanding on
the African continent.
Liberty, South Africa's number four insurance firm by market
value, is expanding beyond its home base to parts of Africa,
where demand is rising from a growing middle class.
Further details of the deal were not disclosed.
($1 = 12.8950 rand)
(Reporting by Nqobile Dludla; Editing by Gopakumar Warrier)