OLD MUTUAL PLC - Old Mutual Announces Sale of Old Mutual Wealth Italy

Old Mutual Announces Sale of Old Mutual Wealth Italy


       OLD MUTUAL PLC
       ISIN CODE: GB00B77J0862
       JSE SHARE CODE: OML
       NSX SHARE CODE: OLM
       ISSUER CODE: OLOMOL
       Old Mutual plc
       Ref 474/16
       9 August 2016


       OLD MUTUAL ANNOUNCES SALE OF OLD MUTUAL WEALTH ITALY

       Old Mutual plc (“Old Mutual”) today announces that it has agreed to sell Old Mutual Wealth Italy
       (“OMWI”) to ERGO Italia, owned by Cinven. The consideration for the transaction is €278 million in
       cash, plus interest to completion. The transaction is subject to usual regulatory approvals and
       customary conditions and is expected to complete within six months.
       As at 31 December 2015, OMWI had €7 billion of funds under management and contributed €22
       million of post-tax earnings for the year ending 31 December 2015. The sale is the final part of the
       divestment of Old Mutual Wealth’s continental European businesses allowing it to focus on its core
       UK and cross border markets. Proceeds will be retained by Old Mutual for general corporate
       purposes.


       Enquiries
       External communications
       Patrick Bowes                       UK       +44 20 7002 7440
       Investor relations
       Dominic Lagan                       UK       +44 20 7002 7190
       Sizwe Ndlovu                        SA       +27 11 217 1163

       Media
       William Baldwin-Charles                      +44 20 7002 7133
                                                    +44 7834 524833


       Notes to Editors
       Old Mutual provides investment, savings, insurance and banking services to 18.9 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 2015, the Group reported adjusted operating profit before tax of £1.7 billion and
       had £304 billion of funds under management from core operations (excluding Rogge).
       For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com


       Sponsor:
       Merrill Lynch South Africa (Pty) Limited

       Joint Sponsor:
       Nedbank Capital






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