Old Mutual Wealth outlines demerger plans

Update on 'managed separation' proposals

Old Mutual has announced its intention to list Old Mutual Wealth as a separate entity on the London and Johannesburg stock exchanges in a demerger, as the group updated on its "managed separation" plans today.

In the initial announcement in March, Old Mutual said the managed separation "may involve equity market activity" for Old Mutual Wealth and Old Mutual Emerging Markets, while its other entities Nedbank and US-based OM Asset Management are already publicly traded. This morning, the group announced its intention to deliver Old Mutual Wealth "into the hands of Old Mutual's shareholders by way of a demerger", and listing the company on both the London and Johannesburg stock exchanges. The group is also planning to create a new South African holding company for its Emerging Markets operati...