Old Mutual Shareholders to Get $3.5 Billion from Nedbank Spin-Off
JOHANNESBURG (Reuters) – South Africa’s Old Mutual Ltd said on Wednesday its shareholders will get R50 billion ($3.50 billion) from the spin-off of a majority of its stake in Nedbank. Old Mutual holds 52 percent of Nedbank and after the spinoff will hold around 19.9 percent, it said in a statement. (Reporting by Nqobile Dludla, […]
JOHANNESBURG (Reuters) – South Africa’s Old Mutual Ltd said on Wednesday its shareholders will get R50 billion ($3.50 billion) from the spin-off of a majority of its stake in Nedbank.
Old Mutual holds 52 percent of Nedbank and after the spinoff will hold around 19.9 percent, it said in a statement.
(Reporting by Nqobile Dludla, editing by Louise Heavens)