6th Mar 2016 15:17
LONDON (Alliance News) - Anglo-South African financial services group Old Mutual PLC is planning a break-up of its operations which may be announced when it publishes its annual results on Friday, Sky News reported.
Sky said the blue-chip group is planning to split into four standalone units. This would comprise its stake in South African lender Nedbank, its UK-focused wealth management unit, its South Africa-based emerging markets operation and its institutional asset management business.
Private equity firms Cinven and Warburg Pincus are already understood to have a tabled a joint bid to buy the wealth unit, which includes the Old Mutual Global Investors and Quilter Cheviot units.
http://news.sky.com/story/1654073/ftse-100-giant-old-mutual-plots-9bn-break-up
By Sam Unsted; [email protected]; @SamUAtAlliance
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