1st Apr 2016 09:22
LONDON (Alliance News) - Anglo-South African financial services group Old Mutual PLC is preparing to sell its wealth management unit in Italy as part of the wider restructuring plan for the group, Reuters reported.
Old Mutual has advised Rothschild to sound out potential bidders for the Milan-based operation, which could be valued at up to EUR300.0 million, according to sources cited by Reuters.
http://www.reuters.com/article/us-old-mutual-m-a-italy-idUSKCN0WX2AJ
In March, Old Mutual tabled plans to split into four businesses, comprising its Nedbank banking business in South Africa, an emerging markets unit, a US asset manager and a UK wealth manager.
By Sam Unsted; [email protected]; @SamUAtAlliance
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