Sale of Skandia Switzerland completes

RNS Number : 6090A

Old Mutual PLC

30 September 2015

 



Old Mutual plc

Ref 664/15

30 September 2015

Old mutual PLC sale of skandia SWITZERLAND completes

Old Mutual plc today announces that the sale of Skandia Leben AG in Switzerland, part of Old Mutual Wealth, to Life Invest Holding AG, a company owned by the Mutschler Group and Hannover Re, has now completed. The consideration for the transaction is not being disclosed.

The sale was announced on 29 May 2015 and is part of Old Mutual Wealth's commitment to simplify its operations in Europe.

Enquiries

External communications

Patrick Bowes                                      UK          [phone]

Investor relations

Dominic Lagan                                    UK          [phone]

Sizwe Ndlovu                                        SA           [phone]

Media

William Baldwin-Charles                                   [phone]

                                                                                [phone]

Notes to Editors

Old Mutual provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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