|Bid||194.00 x 106000|
|Ask||209.70 x 500000|
|Day's range||198.10 - 200.00|
|52-week range||182.30 - 229.84|
|PE ratio (TTM)||11.90|
|Forward Dividend & Yield||N/A (N/A)|
|1y target est||217.56|
CAPE TOWN, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - South African waste management company Interwaste fired KPMG as its auditor on Thursday, dealing another blow to the accounting firm ensnared in a scandal involving business friends of President Jacob Zuma. Interwaste joins at least seven other clients including fund manager Sygnia and broker Sasfin to break ties with KPMG. It comes after KPMG's own investigation found flaws in work it did for the national tax agency and the Gupta family, accused of using links with Zuma to win government contracts.
Suitors for Old Mutual (Other OTC: ODMUF - news) 's asset management arm run by veteran British investor Richard Buxton have until Sept. 29 to submit tentative bids for the business, sources familiar with the matter told Reuters. Goldman Sachs (NYSE: GS-PB - news) , which is running the sale of the unit, has given bidders less than three weeks to submit indicative offers as confidential material was only dispatched on Sept. 13, three sources said. Prospective suitors for the business, which is called Old Mutual Global Investors (OMGI) and sits within Old Mutual Wealth, include private equity funds TA Associates and Hellman & Friedman, according to one of the sources, who added that a host of buyout firms had been invited to run the rule over the unit.
A former investor in Gartmore, the asset manager, has been approached about backing a buyout of Old Mutual (Other OTC: ODMUF - news) 's £25bn fund management arm. Sky News has learnt that Hellman & Friedman, a US-based private equity firm, is among a number of parties being sounded out by Old Mutual as it tries to drum up a bumper auction of the business. A potential deal would see Richard Buxton, the star fund manager who runs Old Mutual Global Investors (OMGI), leading a buyout of the division's single-strategy operations.
The wealth management business of Anglo-South African insurer and financial services group Old Mutual (Taiwan OTC: 6407.TWO - news) has split its fund management business into two and is also considering a spin-off of one of the units, led by veteran British fund manager Richard Buxton. Old Mutual (Other OTC: ODMUF - news) is already in the process of an ambitious break-up that will see it split into four separate companies, of which Old Mutual Wealth will be one. Old Mutual Global Investors, which is currently led by Buxton, will focus on the single-strategy business while Paul Simpson has been appointed chief executive of the multi-asset arm, which has 16 billion pounds ($21 billion) of assets under management.
One of the City's leading fund managers is plotting a deal to buy out the £25bn asset management arm of Old Mutual (Other OTC: ODMUF - news) , the Anglo-South African financial services group. Sky News can exclusively reveal that Richard Buxton, the former Schroders (Frankfurt: 929969 - news) star who joined Old Mutual Global Investors (OMGI) four years ago, is talking to private equity firms about a takeover of its third-party fund management business. Mr Buxton, who is one of the City's most prominent figures, is said to have been approached by investors including TA Associates, a former backer of Jupiter Asset Management.
Anglo-South African financial services group Old Mutual (Other OTC: ODMUF - news) aims to list two divisions rather than sell them as it pursues a plan to split into four parts by the end of next year. Old Mutual, which said last year it is breaking up because regulatory change made its disparate businesses too complex to run, posted a 37 percent rise in first-half operating profit on Friday to 969 million pounds ($1.26 billion), helped by sterling weakness and strong performance in Old Mutual Wealth. After starting life as an insurance company in Cape Town in 1845, Old Mutual has branched out into other parts of Africa, Britain and the United States, and into banking and funds.
Anglo-South African financial services firm Old Mutual is selling 17 million shares in U.S. fund firm Old Mutual Asset Management , it said on Tuesday, cutting its minority stake in the firm by a further ...
Financial services group Old Mutual (Other OTC: ODMUF - news) Plc's UK asset management business reported its higher ever quarter for client inflows and funds under management for the first three months of the year, citing increased demand for its services and platform. Old Mutual Wealth forecast that markets would remain volatile and challenging in the medium term, especially until the outcome of Britain's June general election and more detail of the terms of the country's exit from the EU were known. The business's net client cash flows, excluding Old Mutual Italy and the South African branches, rose 59 percent to 2.7 billion pounds ($3.5 billion) in the quarter ended March 31.
Britain's top share index inched lower on Tuesday after rising to a three-week high in the previous session, as results weighed on Tesco shares and the broader UK supermarket sector. The blue chip FTSE ...
Live coverage of European markets now available on cpurl://apps.cp./cms/?pageId=livemarkets Summary: **European shares inch higher: STOXX up 0.2 pct, FTSE up 0.3 pct **Oil stocks set for biggest 2-week ...
The muted start to the second quarter continued on Tuesday with European shares ending a choppy session slightly in positive territory as gains in oil-related stocks and miners more than offset weakness ...
** Shares in companies with exposure to South Africa slip after S&P downgrade led to rand weakness ** Investec , Steinhoff and Old Mutual at the bottom of Stoxx 600; Mediclinic among top fallers ** Investec ...
Britain's top share index fell on Friday but completed its fourth successive quarter of gains, the best such winning streak since 2011. The blue-chip FTSE 100 rose 2.8 percent over the first three months ...
European shares fell slightly on Friday, weighed down by losses among miners and a slump in insurer Old Mutual and other South African-exposed stocks, but were firmly on track to end the quarter with a ...
Anglo-South African financial services firm Old Mutual said it has sold a 25 percent stake in its U.S. fund management arm to China's HNA for $446 million, as part of its plan to split itself into four ...
LONDON--(BUSINESSWIRE)-- OM Asset Management plc (NYSE:OMAM) announced that Old Mutual plc has agreed to sell a 24.95% shareholding in OMAM to HNA Capital US in a two-step transaction for gross cash consideration ...
Old Mutual is on track to complete its break-up into four parts by the end of 2018, although improvements to IT systems at its UK asset management unit could take longer and cost more than expected, the chief executive said on Thursday. The Anglo-South African financial services group is splitting itself up into its four main businesses because it says regulatory change has made it too complex to run the disparate group in its current form. The firm said in August 2016 that a new platform for Old Mutual Wealth would cost 450 million pounds ($547.07 million) and be completed around the end of 2018.