Old Mutual PLC: Termination of negotiations on potential sale of Mutual & Federal

The Board of Old Mutual plc (Old Mutual) and Royal Bafokeng Holdings (RBH) have agreed to terminate their discussions on the sale of Old Mutual’s shares in Mutual & Federal to RBH.

Old Mutual and RBH were unable to agree mutually acceptable terms in the current economic environment.

Jim Sutcliffe, Old Mutual Group Chief Executive, said:

"We are confident that Mutual & Federal’s management will continue to deliver strong performance and returns. Our strategy is to focus on our core asset management activities. Meanwhile, we will only consider transactions that fully reflect value for our shareholders".