Old Mutual will retain a 19.9% shareholding in Nedbank after its impending split into four parts.
A new South African holding company, Old Mutual Limited, will be the holder of the Nedbank shares.
Old Mutual Limited will have a primary listing on the Johannesburg Stock Exchange with a secondary listing in London.
The Money Show’s Bruce Whitfield interviewed Old Mutual Emerging Markets head Peter Moyo.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
The arrangement was always to sell down their majority stake into a significant minority.— Peter Moyo, Old Mutual Emerging Markets
19.9% is still significant, yet it’s not too big for us.— Peter Moyo, Old Mutual Emerging Markets
Our plan is for this to be done by the end of next year.— Peter Moyo, Old Mutual Emerging Markets
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