By: Old Mutual emerging Markets
Further to the media release on 9 January 2017, we are pleased to announce that the Competition Tribunal has approved the acquisition of Old Mutual plc by the newly incorporated Old Mutual Limited, as was recommended by the Competition Commission. This approval by the Competition Tribunal is a significant step towards the listing of Old Mutual Limited as a standalone entity this year.
Today’s Competition Tribunal hearing, follows Minster of Economic Development,Ebrahim Patel, welcoming Old Mutual’s decision to make South Africa the primary base for all of its operations. Minister Patel said “the move back home of one our South Africa’s premier financial institutions would help inject investor confidence in the economy, and is a well-timed signal that we can grow the economy.”
We are excited and look forward to the homecoming of Old Mutual from the UK to the African continent.