Menu

Old Mutual to retain 20% of South Africa’s Nedbank after split

Featured

Nedbank - [https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/non-resident-and-embassy-banking/services/_jcr_content/detailgeneralcontent/precontentpar/image.img.jpg/1439495692745.jpg] Nedbank - [https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/non-resident-and-embassy-banking/services/_jcr_content/detailgeneralcontent/precontentpar/image.img.jpg/1439495692745.jpg]

Anglo-South African financial services group Old Mutual said on Wednesday it will retain a 19.9 percent strategic minority shareholding in Nedbank after the parent company’s planned split.

Old Mutual, whose primary share listing is on the London Stock Exchange, is planning to break itself up into four parts as it says regulatory changes make the company too complex to run in its current form.

The shareholding in Nedbank, which is a majority-owned banking subsidiary of Old Mutual plc, will have a primary listing on the JSE and a secondary listing on the London Stock Exchange, the companies said in a statement.


 

Source

CNBCAFRICA

back to top

Industries

About us

Follow us

Follow us @BusinessNewsCT

BusinessNewsCT To save Eskom from ruin, SA should ditch nuclear plan and cut coal power - https://t.co/HjGIrjO0Ne https://t.co/VqsYlNVufa
1hreplyretweetfavorite
BusinessNewsCT ELGi’s high pressure diesel power screw compressors reach new depths - https://t.co/yWRzOGZjDP https://t.co/lHRXmUfimQ
1hreplyretweetfavorite