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HONG KONG/LONDON (Reuters) - Old Mutual has put up for sale its 50 percent stake in a Chinese insurance joint venture, people with direct knowledge of the matter said, as part of a revamp of the Anglo-South African financial group and amid a tough market for foreign insurers in China. Old Mutual, which is working with financial advisers on the stake sale plan, could sell its holding in the 13-year-old life insurance joint venture with Guodian Corp to one or more local firms, said the people. The move is part of a broader Old Mutual group restructuring exercise to exit non-core and smaller operations, they said, adding there is no certainty a deal would happen and the company could end the process if the bids don't match its expectations.
OLDM.ST: Summary for Old Mutual Plc - Yahoo Finance
Old Mutual plc (OLDM.ST)
Stockholm - Stockholm Real-time price. Currency in SEK
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|Day's range||22.30 - 22.40|
|52-week range||19.30 - 25.20|
|PE ratio (TTM)||155.56|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|