Completion of sale of Old Mutual's Nordic business
21 March 2012
Old Mutual plc is pleased to announce that it has today completed the sale of its Nordic business to Skandia Liv for a net cash consideration of SEK22.4 billion (£2.1 billion). Payment of the special dividend of 18p per share (or its equivalent in other applicable currencies) is now unconditional and will be made on 7 June 2012 to shareholders on the register at the close of business on 20 April 2012.
Julian Roberts, Group Chief Executive of Old Mutual, said: "I am delighted that we have completed this transaction, which creates value for both our shareholders and for Skandia Liv's policyholders."
The full timetable for payment of the special dividend, for the announcement of the exchange rates for conversion of the special dividend into other applicable currencies, for the consolidation of the Company's shares and for the dates the Company's shares will trade ex-dividend on the various exchanges where they are listed was announced with our preliminary results for the year ended 31 December 2011 on 9 March 2012 and can be found at http://www.oldmutual.com/ir/index.jsp.
External Communications / Investor Relations
Patrick Bowes +44 (0)20 7002 7440
Kelly de Kock +27 (0)21 509 8709
William Baldwin-Charles +44 (0)20 7002 7133
Notes to Editors
Old Mutual is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance to more than 15 million customers in Europe, the Americas, Africa and Asia. Old Mutual is listed on the London and Johannesburg Stock Exchanges, among others, since 1999.
In the year ended 31 December 2011, the Group reported adjusted operating profit before tax of £1.5 billion (on an IFRS basis) and had £267 billion of funds under management from core operations.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com