LONDON -- (Business Wire)
OM Asset Management plc (NYSE:OMAM) announced that Old Mutual plc has
agreed to sell a 24.95% shareholding in OMAM to HNA Capital US in a
two-step transaction for gross cash consideration of approximately $446
million. Following the transaction, Old Mutual’s shareholding will
reduce from 50.8% to 25.9%.
It is expected that one HNA Capital US-nominated director will join the
OMAM board on the completion of the first tranche of 9.95% of OMAM
shares and a second on the completion of the second tranche of 15% of
OMAM shares. In both cases, these directors will replace existing
nominees of Old Mutual.
For additional information, please see Old Mutual plc’s press release,
issued today, March 25, 2017, at http://www.oldmutualplc.com/media/news/view-news.jsp?news-id=31338.
About OMAM
OMAM is a global, multi-boutique asset management company with
approximately $240 billion of assets under management as of December 31,
2016. Its diverse Affiliates offer leading, alpha generating investment
products to investors around the world. OMAM’s partnership approach,
which includes equity ownership at the Affiliate level and a profit
sharing relationship between OMAM and its Affiliates, aligns the
interests of the Company and its Affiliates to work collaboratively in
accelerating their growth. OMAM’s business model combines the investment
talent, entrepreneurialism, focus and creativity of leading asset
management boutiques with the resources and capabilities of a larger
firm. For more information about OMAM, please visit the Company’s
website at www.omam.com.
OMAM-201726
View source version on businesswire.com: http://www.businesswire.com/news/home/20170325005014/en/
Contacts:
OMAM
Brett Perryman, 617-369-7300
ir@omam.com
Source: OMAM
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