24th Jun 2015 06:14
LONDON (Alliance News) - Anglo-South African financial services group Old Mutual PLC on Wednesday said it has completed the acquisition of a majority stake in UAP Holdings Ltd and has begun integrating the business into its existing operations.
The FTSE 100-listed company had said in January it would take a majority stake in the East and Central Africa-focused financial services company, after acquiring new shares in the company for around USD155.5 million. It now holds a 60.7% stake in the company.
Old Mutual also said on Wednesday it has started the process of integrating UAP into its operations.
By Sam Unsted; [email protected]; @SamUAtAlliance
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