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OML
OLOML
OML - OLD Mutual plc - Completion of sale of US Life
OLD MUTUAL plc
Issuer code: OLOML
JSE Share code: OML
NSX share code: OLM
ISIN: GB0007389926
Ref 39/11
7 April 2011
Completion of sale of US Life
Old Mutual plc is pleased to announce that, following receipt of the
remaining regulatory approval from the New York State Insurance Department,
completion of the sale of its US Life business to Harbinger Group Inc. has
now taken place.
As previously announced, the sale price was US$350 million.
Commenting today, Julian Roberts, Group Chief Executive of Old Mutual plc,
said:
"I am delighted that we have now completed the transaction. This is an
important step in simplifying the Old Mutual Group."
Enquiries
External
Communications
Patrick Bowes +44 (0)20 7002 7440
Investor Relations
Deward Serfontein SA +27 (0)82 810 5672
Aleida White UK +44 (0)20 7002 7287
Media
William Baldwin- +44 (0)20 7002 7133
Charles
Notes to Editors
Old Mutual
Old Mutual plc is an international long-term savings, protection and
investment Group. Originating in South Africa in 1845, the Group provides
life assurance, asset management, banking and general insurance to more than
15 million customers in Europe, the Americas, Africa and Asia. Old Mutual
plc is listed on the London Stock Exchange and the Johannesburg Stock
Exchange, among others.
In the year ended 31 December 2010, the Group reported adjusted operating
profit before tax of GBP1.5 billion (on an IFRS basis) and had GBP309
billion of funds under management, from core operations.
For further information on Old Mutual plc, please visit the corporate
website at www.oldmutual.com
Sponsor:
Merrill Lynch SA (Pty) Limited
Date: 07/04/2011 08:00:12 Produced by the JSE SENS Department.
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