'We’re in the final straight' - Old Mutual CEO on splitting the company in 4

Also read:

*Old Mutual investor? How to approve (or vote against) aspects of its 4-way split

*Old Mutual investor? Did you receive a 'Shareholder Pack' in the post?

In 2016 Old Mutual plc announced a new strategy – the separation of its four underlying businesses in Africa, the UK and elsewhere.

The process is called a “managed separation”.

If the proposals to finalise the strategy are approved, then Old Mutual plc shareholders will receive shares in Old Mutual Limited, the new name of the African business, and Quilter plc, the new name of the UK business, in exchange for their existing shares.

Old Mutual also intends to distribute most of its Nedbank shares to shareholders.

The Money Show’s Bruce Whitfield interviewed Old Mutual Group Chief Executive Bruce Hemphill.

Whitfield asked Hemphill to give an update on the “conscious uncoupling” (apologies to Gwyneth Paltrow).

Listen to the interview in the audio below (and/or scroll down for quotes from it).

We’re in the final straight… We have two more fences to cross…

Bruce Hemphill

We don’t see any obstacles… We’ve had long discussions with the institutional investors… We’re comfortable that, from a shareholder perspective, we’ll be fine.

Bruce Hemphill

There should be quite a significant uplift in value… We’re going to reduce debt, operating costs…

Bruce Hemphill

Our shareholders voted to support the reappointment of KPMG…

Bruce Hemphill

If you are going to expand globally… you’ve really got to understand the environment… it’s really tough…

Bruce Hemphill

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our mailing list

* indicates required

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
The 50th annual World Economic Forum is about to end. It’s been a weird one

The 50th annual World Economic Forum is about to end. It’s been a weird one

SA missing in action. Trump vs Thunberg. Stakeholder capitalism. A wrap of our coverage of this year’s World Economic Forum.

Your entire economy was highjacked! How many are in prison? – Richard Quest, CNN

Your entire economy was highjacked! How many are in prison? – Richard Quest, CNN

The Money Show’s Bruce Whitfield conducts a shocking interview with CNN’s Richard Quest at the World Economic Forum in Davos.

Positioning your business for success

Positioning your business for success

Positioning your business for success - what does this phrase even mean?

This is how you should invest your money for the next decade

This is how you should invest your money for the next decade

Personal Finance - Tips on how to invest your money.

Old Mutual investor? Did you receive a 'Shareholder Pack' in the post?

Old Mutual investor? Did you receive a 'Shareholder Pack' in the post?

What to do if you haven’t yet received details on how to vote on aspects of Old Mutual’s four-way split.

Old Mutual investor? How to approve (or vote against) aspects of its 4-way split

Old Mutual investor? How to approve (or vote against) aspects of its 4-way split

Watch out for the Shareholder Pack and listen to The Money Show over the next few weeks to stay up to date.

Popular articles
[VIDEO] Family saved from being hit by speeding SUV goes viral

[VIDEO] Family saved from being hit by speeding SUV goes viral

Khabazela shares tweets and Facebook posts that have gone viral.