| Wed 6 Feb 2013, 15:00 | | OLD MUTUAL PLC - Old Mutual Completes Acquisition of Oceanic Life |
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OML 201302060035A
Old Mutual Completes Acquisition of Oceanic Life
OLD MUTUAL PLC
ISIN CODE GB00B77J0862
ISSUER CODE OLOML
JSE SHARE CODE OML
NSX SHARE CODE OLM
Ref 10/13
6 February 2013
Old Mutual completes acquisition of Oceanic Life
Old Mutual announces today that it has completed the acquisition of a majority stake in Oceanic Life, the life
assurance operations of the former Oceanic Bank in Nigeria acquired by Ecobank Transnational Incorporated
(Ecobank).
Ralph Mupita, CEO of Old Mutual's Emerging Markets business, commented: “We are delighted to have completed
the acquisition of this majority stake and we continue to work with Ecobank to expand our product offerings to the
Nigerian market. The growth dynamics of the industry are exciting and prospects are good for further development
of our business operations in West Africa.”
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Notes to Editors
Old Mutual
Old Mutual 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 12
million customers in Africa, the Americas, Asia and Europe. Old Mutual has been listed on the London and
Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.5 billion (on an
IFRS basis) and had £267 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 South Africa (Pty) Ltd
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