All data is delayed
Loading...
See More

Old Mutual sells US units worth $12bn

Jan 02 2013 17:50
Fin24
Johannesburg - Insurer Old Mutual [JSE:OML] said on Wednesday it has completed the sale of five of its US affiliates to their respective senior management teams.

"These businesses had combined assets under management of $12bn as at 30 September 2012," it said.

Old Mutual Asset Management (Omam), the US-based global asset management business of Old Mutual, said in an announcement on SENS that it has closed the transactions with the five affiliate asset managers - 2100 Xenon Group, 300 North Capital, Analytic Investors, Ashfield Capital Partners and Larch Lane Advisors.

Terms of the transactions were not disclosed. Omam entered into definitive agreements with the affiliate firms in October 2012.


   

 

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

old mutual

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Do you think women are under-represented in leadership positions globally?

Previous results · Suggest a vote

Loading...