OLD MUTUAL PLC - Sale of Old Mutual's Latin American Businesses

Sale of Old Mutual's Latin American Businesses


   OLD MUTUAL PLC
   ISIN CODE: GB00B77J0862
   JSE SHARE CODE: OML
   NSX SHARE CODE: OLM
   ISSUER CODE: OLOMOL
   Old Mutual

   Ref 144/18
   16 March 2018


   SALE OF OLD MUTUAL’S LATIN AMERICAN BUSINESSES

   Old Mutual plc (“Old Mutual”) today announces that it has agreed to sell its Latin American businesses
   to CMIG International, a financial holding company based in Singapore. The transaction is subject to
   usual regulatory approvals and customary closing conditions.

   The Latin American businesses are: Old Mutual Colombia, a pensions, life insurance, mutual funds,
   and stock brokerage business; Old Mutual Mexico, a life insurance and mutual funds business; and
   Aiva, an investment advisor and a distribution platform for independent financial advisers in Latin
   America.

   The decision to sell Old Mutual´s Latin American operations followed a strategic review in which it was
   concluded that Old Mutual Emerging Markets should prioritise its sub-Saharan African businesses.
   Proceeds from the sale will be retained for general corporate purposes by Old Mutual Emerging
   Markets.

   Goldman Sachs and Rothschild acted as joint financial advisers to Old Mutual in connection with the
   transaction.


   Enquiries
   External communications
   Patrick Bowes                                        +44 20 7002 7440
   Investor relations
   Dominic Lagan (Old Mutual plc)                       +44 20 7002 7190
   Nwabisa Piki (Old Mutual Emerging Markets)           +27 11 217 1951

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


   Notes to Editors
   About Old Mutual plc

   Old Mutual plc is a holding company for several financial services companies. In March 2016, it announced a new
   strategy of managed separation entailing the separation of its underlying businesses into independently-listed,
   standalone entities.

   The managed separation strategy seeks to preserve and release the value currently trapped within the group
   structure. The managed separation will be materially complete by the end of 2018.

   OM Asset Management, a US based institutional asset manager, is now independent from Old Mutual. The
   remaining underlying businesses are:

   Old Mutual Emerging Markets: Old Mutual Emerging Markets seeks to become a premium African financial
   services group that offers a broad spectrum of financial solutions to retail and corporate customers across key
   market segments in 17 countries.

   Nedbank: Nedbank ranks as a top-5 bank by capital on the African continent and Ecobank, in which Nedbank
   maintains a 21.2% shareholding, ranks within the top-10 banks by assets on the African continent.
       
   Old Mutual Wealth: Old Mutual Wealth is a leader in the UK and in selected offshore markets in wealth
   management, providing advice-led investment solutions and investment platforms to over 900,000 customers,
   principally in the affluent market segment.

   For the year ended 31 December 2017, Old Mutual reported an adjusted operating profit before tax of £2.0 billion.
   For further information on Old Mutual plc and the underlying businesses, please visit the corporate website at
   www.oldmutualplc.com.


   Sponsor:
   Merrill Lynch South Africa (Pty) Ltd

   Joint Sponsor:
   Nedbank Corporate and Investment Banking






Date: 16/03/2018 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.