3rd Sep 2013 06:28
LONDON (Alliance News) - Old Mutual Plc. (OML.L) announced Tuesday that its acquisition of a majority stake in Ghana's Provident Life Assurance Company has become unconditional.
The Financial Services Board of South Africa and the National Insurance Commission of Ghana have approved the deal.
Ralph Mupita, CEO of Old Mutual Emerging Markets, said, "With distribution in four cities in Ghana - Accra, Kumasi, Takoradi and Tema - Provident Life Assurance Company provides excellent opportunities for Old Mutual, giving impetus to our expansion strategy in West Africa."
Copyright RTT News/dpa-AFX
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