Old Mutual sells Nedbank shares
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