Completion of Faulu transaction

RNS Number : 7084D

Old Mutual PLC

01 April 2014

 



Old Mutual plc

Ref 27/14

1 April 2014

Old mutual plc aNNOUNCES the completion of faulu transaction

Old Mutual Group ("Old Mutual") today announces that the transaction to acquire a majority share in Faulu Microfinance Bank Limited ("Faulu"), the deposit-taking microfinance business in Kenya, has become unconditional.

Julian Roberts, Group Chief Executive of Old Mutual, said: "We are delighted to announce the official start of our partnership with Faulu in Kenya, and we look forward to seeing the results of this mutually beneficial relationship."

Enquiries

External communications

Patrick Bowes                           UK        [phone]

Investor relations

Dominic Lagan                           UK        [phone]

Kelly de Kock                            SA        [phone]

Media

William Baldwin-Charles                         [phone]

                                                            [phone]

Notes to Editors

Old Mutual provides life assurance, asset management, banking and property & casualty insurance to more than 16 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2013, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £294 billion of funds under management from core operations.

For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com 

 

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