Old Mutual to reduce its stake Nedbank
WATCH: Nedbank CEO Mike Brown on Old Mutual’s managed separation strategy
Old Mutual is not not selling shares to new investors
As part of the plan to strip itself down to its South African-based core business, Old Mutual Ltd, Old Mutual has reduced its 54% stake in Nedbank to a strategic minority shareholding of 19.9%. It is looking at achieving that through the distribution of the balance of Old Mutual Ltd’s majority shareholding in Nedbank Group to its shareholders after the listing of Old Mutual in 2018 .
Nedbank CEO Mike Brown provides Business Day TV some insight into the details of Old Mutual’s managed separation strategy.