Old Mutual sells stake in OMAM for $446m

Next part of managed separation

Laura Dew
clock • 1 min read

Old Mutual has agreed to sell a 25% stake in OM Asset Management to HNA Capital US for $446m, reducing its own share to 25.9%.

The move reduces Old Mutual's share in the business from 50.8% to 25.9%; the transaction is comprised of a sale of 9.95% OMAM shares at $15.30 per share, and 15% at the price of $15.75 per share. The first part of the transaction is due to complete in 30 days and the second half will be implemented in the second half of 2017. It is expected a US-nominated director will join the OMAM board upon completion of the first part of the transaction. Old Mutual enters next stage of managed separation Multi-boutique asset manager OMAM has $240bn in assets under management while HNA Capita...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot