Completion of sale of Old Mutual's US Life business
07 April 2011 | Company News & Results | Old Mutual | Old Mutual
Old Mutual plc is pleased to announce that, following receipt of the remaining regulatory approval from the New York State Insurance Department, completion of the sale of its US Life business to Harbinger Group Inc. has now taken place.
As previously announced, the sale price was US$350 million.
Commenting today, Julian Roberts, Group Chief Executive of Old Mutual plc, said:
"I am delighted that we have now completed the transaction. This is an important step in simplifying the Old Mutual Group."
