Anglo-SouthAfrican financial services company Old Mutual Plc said on Friday it would split up its four main units -Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank Group and OM Asset Management to unlock value.
Old Mutual says to split up four main units
Old Mutual said its pretax adjusted operating profit for 2015 rose 4 percent in reported currency terms to 1.7 billion pounds ($2.4 billion).
Workers clean windows outside the Cape Town headquarters of Anglo-South African financial services company Old Mutual, March 7, 2016. REUTERS/Mike Hutchings
The company said it expected the separation to be materially completed by the end of 2018.
($1 = 0.7004 pounds)
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
FG to review recent price hike of DStv, GOtv packages amid public outcry
BREAKING: FG grants Air Peace right to commence Abuja-London flights - Keyamo
Deputy who dumped Akeredolu clinches PDP governorship ticket
Gov inaugurates 2nd phase of palliative distribution to poor Enugu residents
Flight Dispatchers fault Keyamo's order to suspend Dana Air over landing mishap
Respite for Nigerians as NNPC says cause of fuel scarcity has been resolved
Again, JAMB extends Direct Entry registration, says 2024 UTME best in history
Lagos residents need real empowerment, not your food packs, LP tells Sanwo-Olu
Ikoyi prison controller in trouble for disobeying court order on convict's whereabouts
ADVERTISEMENT