| Fri 14 Aug 2009, 10:50 | | OML - Old Mutual Plc - Nedbank Buy-Out Of Imperial Bank Joint Venture |
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OML
OLOML
OML - Old Mutual Plc - Nedbank Buy-Out Of Imperial Bank Joint Venture
OLD MUTUAL PLC
ISIN CODE: GB0007389926
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOML
NEDBANK BUY-OUT OF IMPERIAL BANK JOINT VENTURE
Nedbank Group Limited, the 55%-owned South African banking subsidiary of Old
Mutual, has today announced that it has agreed to buy out the interest of
Imperial Holdings Limited in their joint venture, Imperial Bank Limited.
The consideration for the purchase amounts to R1,775 million, of which
approximately 80 per cent will be settled in Nedbank ordinary shares and the
balance in cash.
The full text of the announcement is available on Nedbank`s website
www.nedbank.co.za
For further information on Old Mutual plc, please visit our corporate website at
www.oldmutual.com
Enquiries
Investor Relations
Patrick Bowes UK +44 (0)20 7002
7440
Deward Serfontein SA +27 (0)82 810 5672
Media
Matthew UK / SA +44 (0)20 7002
Gregorowski 7133
+44 (0)7748 183
834
Don Hunter UK +44 (0)20 7251
(Finsbury) 3801
Notes to Editors
Old Mutual
Old Mutual plc is a leading international long-term savings Group. Originating
in South Africa in 1845, the Group provides life assurance, asset management,
banking and general insurance in Europe, the Americas, Africa and Asia. Old
Mutual plc is listed on the London Stock Exchange and the JSE, among others.
In the year ended 31 December 2008, the Group reported adjusted operating profit
of GBP1.0 billion (on an IFRS basis) and had GBP265 billion of funds under
management at the year end. The Group has approximately 57,000 employees.
14 August 2009
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 14/08/2009 10:50:01 Produced by the JSE SENS Department.
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