Old Mutual shareholders to receive R50bn

PUBLISHED: Wed, 26 Sep 2018 15:20:58 GMT

Old Mutual shareholders are expected to receive R50 billion from the Nedbank unbundling. Old mutual held 52 per cent ownership of Nedbank but after its exit it only hold 19.9 per cent stake in the bank. Shareholders will receive R43.2 billion from the spin-off and R7.1 billion in interim and special dividends that will be paid on the 16th of October. The company’s CEO, Peter Moyo joins CNBC Africa for more.

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