Old Mutual Sells Skandia Leben for Undisclosed Sum
May 29 2015 - 3:42AM
Dow Jones News
By Ian Walker
LONDON--South African financial services firm Old Mutual PLC
(OML.LN) said Friday it is selling Skandia Leben AG in Switzerland
to Life Invest Holding AG, a company owned by the Mutschler Group
and Hannover Re, for an undisclosed sum.
At Dec. 31, 2014, Skandia Leben had funds under management of
1.3 billion Swiss francs ($1.38 billion).
The transaction is expected to take six months to complete, Old
Mutual said, adding that the deal continues Old Mutual Wealth's
commitment to simplify its operations.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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