Wrap Text
Old Mutual Wealth Completes Acquisition of Financial Adviser Network Caerus
OLD MUTUAL PLC
ISIN CODE: GB00B77J0862
JSE SHARE CODE: OML
NSX SHARE CODE: OLM
ISSUER CODE: OLOMOL
Old Mutual plc
Ref 118/17
2 June 2017
OLD MUTUAL WEALTH COMPLETES ACQUISITION OF FINANCIAL ADVISER NETWORK
CAERUS
Old Mutual Wealth, the UK wealth management business of Old Mutual plc, has completed the
acquisition of the financial adviser network, Caerus Capital Group ("Caerus"). Intrinsic, part of Old
Mutual Wealth, had agreed the acquisition subject to a number of conditions, including shareholder
agreement and regulatory approval.
The offer has now received approval from the regulator and remaining shareholders following the
unanimous decision of the Caerus Board to accept the offer with regards to its own holdings.
Caerus consists of more than 300 advisers who are responsible for more than £4 billion of Assets under
advice.
The acquisition complements Old Mutual Wealth's existing controlled distribution footprint in the UK,
which includes Intrinsic, and Old Mutual Wealth Private Client Advisers, the branded national adviser
firm established in 2015. The acquisition by Old Mutual Wealth follows its stated intent to acquire further
scalable advice businesses to grow its controlled distribution capability.
Enquiries
External communications
Patrick Bowes +44 20 7002 7440
Investor relations
Dominic Lagan +44 20 7002 7190
Deward Serfontein (Fluent Investor Relations) +27 82 810 5672
Media
William Baldwin-Charles +44 20 7002 7133
+44 7834 524833
Sponsor:
Merrill Lynch South Africa (Pty) Ltd
Joint Sponsor:
Nedbank Corporate and Investment Banking
Notes to Editors
Old Mutual
Old Mutual provides investment, savings, insurance and banking services to 19.4 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.
Old Mutual is executing its strategy of managed separation, which will entail separating its four businesses into
standalone entities. The four businesses are:
Old Mutual Emerging Markets: an attractive business with a dominant position in South Africa, well-placed to
capitalise on sub-Saharan African growth as a diversified financial services provider with strong operations in key
East and West African markets.
Nedbank: one of South Africa’s four largest banks with very strong corporate, commercial and property finance
franchises, and a growth opportunity in the retail market, as well as pan-African optionality through its stake in
Ecobank Transnational Inc (ETI).
Old Mutual Wealth: a leading, integrated wealth management business, focused on the UK upper and middle
market, with strong prospects in a rapidly growing £3 trillion market.
OM Asset Management: an institutionally focussed, multi-boutique asset management business, delivering
strong, diversified growth in attractive asset classes through organic initiatives and acquisitions.
For the year ended 31 December 2016, Old Mutual reported an adjusted operating profit before tax of £1.7 billion
and had £395 billion of funds under management. For further information on Old Mutual plc and the underlying
businesses, please visit the corporate website at www.oldmutualplc.com
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