Tribunal approves Old Mutual/Future Growth merger

The Competition Tribunal has unconditionally approved the merger between Old Mutual Investment Group South Africa (OMIGSA) and Future Growth Asset Management. OMIGSA will acquire 69% of the issued share capital of Future Growth from Wipcapital on the terms and conditions contained in the sales of shares agreement. On completion of the transaction OMIGSA will acquire direct control over a significant part of the business of Future Growth.