{"id":12627,"date":"2021-06-24T18:54:53","date_gmt":"2021-06-24T18:54:53","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=12627"},"modified":"2021-06-24T17:15:08","modified_gmt":"2021-06-24T17:15:08","slug":"old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank","title":{"rendered":"Old Mutual plans to unbundle 12.2% of its stake in Nedbank"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>Old Mutual said yesterday it would unbundle all the Nedbank shares held by Old Mutual Emerging Markets, comprising some 12.2 percent of the share capital of Nedbank.<\/p>\n

The unbundling to Old Mutual shareholders, worth some R10.3 billion based on Nedbank\u2019s market capitalisation yesterday, would be by way of a distribution in specie.<\/p>\n

Old Mutual had maintained a minority 19.4 percent shareholding in Old Mutual following the conclusion of Old Mutual\u2019s managed separation process in 2018.<\/p>\n

This level of the Nedbank stake was determined through discussions with Nedbank and regulators at the time in order to ensure cohesive alignment with the ongoing arms\u2019 length commercial arrangements between Old Mutual and Nedbank, and to support the capital structure of the Old Mutual group.<\/p>\n

Old Mutual said it had been committed as a significant minority shareholder of Nedbank and had retained a right to review the stake from time to time, in accordance with the protocols outlined in the relationship agreement concluded between Nedbank and Old Mutual in April 2018.<\/p>\n

Disposing of the stake would simplify the group, allowing investors to focus on the core operations of Old Mutual, allows shareholders to participate more directly in the investment cases of Old Mutual and Nedbank; and provide a substantial return of capital to shareholders. – Edward West<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Old Mutual said yesterday it would unbundle all the Nedbank shares held by Old Mutual Emerging Markets, comprising some 12.2 percent of the share capital of Nedbank. The unbundling to Old Mutual shareholders, worth some R10.3 billion based on Nedbank\u2019s market capitalisation yesterday, would be by way of a distribution in specie. […]<\/p>\n","protected":false},"author":84,"featured_media":12626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-12627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nOld Mutual plans to unbundle 12.2% of its stake in Nedbank - South Africa<\/title>\n<meta name=\"description\" content=\"Old Mutual said yesterday it would unbundle all the Nedbank shares held by Old Mutual Emerging Markets, comprising some ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Old Mutual plans to unbundle 12.2% of its stake in Nedbank\" \/>\n<meta property=\"og:description\" content=\"Old Mutual said yesterday it would unbundle all the Nedbank shares held by Old Mutual Emerging Markets, comprising some ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-24T18:54:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60d4bd8184551.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Old Mutual plans to unbundle 12.2% of its stake in Nedbank\",\"datePublished\":\"2021-06-24T18:54:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\"},\"wordCount\":224,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60d4bd8184551.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/old-mutual-plans-to-unbundle-12-2-of-its-stake-in-nedbank\",\"name\":\"Old Mutual plans to unbundle 12.2% of its stake in Nedbank - 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