Old Mutual Buys Stake in Aiva Business Platforms for Undisclosed Sum
November 19 2012 - 02:37AM
Dow Jones News
LONDON--Old Mutual PLC (OML.LN), an international long-term
savings, protection and investment Group, said Monday its Emerging
Markets business will strengthen its distribution capability
through the acquisition of a majority stake in AIVA Business
Platforms for an undisclosed sum.
MAIN FACTS:
-Transaction by Old Mutual Life Assurance Company South Africa
is conditional on relevant regulatory approvals and is expected to
complete in early 2013.
-AIVA is a family-owned, business platform and distribution
business based in Uruguay and spanning the Latin American region;
it has assets under management of over 800 million dollars.
-Old Mutual shares closed Friday at 166 pence valuing the
company at 8.13 billion pounds.
-Write to Ian Walker at ian.walker@dowjones.com
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