The Citizen (Gauteng)

Old Mutual sells Nedbank shares

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Old Mutual sold all 5.5 million shares in Nedbank Group to select institutio­nal investors, marking the final step in the spinning-off of the unit.

The Nedbank shares were sold at a price of R230 each, it stated, without giving any further details.

Old Mutual, which holds a majority stake in Nedbank, has been dismantlin­g its conglomera­te structure, created after a series of acquisitio­ns. – Reuters

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