Old Mutual nears completion of Nordic sale
The sale of Old Mutual's Nordic business has received approval from Swedish regulators; now it's up to the shareholders to sign off on the deal.
The sale of Old Mutual's Nordic business has received approval from Swedish regulators; now it's up to the shareholders to sign off on the deal.
"Old Mutual welcomes the announcement this morning of regulatory approval for the disposal from the Swedish Financial Supervisory Authority," the company announced this morning.
Danish regulatory approval for the sale - of Old Mutual's long-term savings and banking operations in Sweden, Denmark and Norway, to Skandia Liv - was confirmed on Friday.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group says that the disposal now remains conditional only on approval by Old Mutual shareholders at the general meeting on March 14th. If that goes the way the company wants, completion of the sale should occur on or around March 21st.
The company's full-year results, which will be released tomorrow, will refer to the said divisions as "held for sale".
Nordic's funds under management (FuM) fell by 8% to 134.3bn Swedish krona, with negative market movements partially offset by positive net client cash flow.
BC
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Average pension pot by region – how do your retirement savings compare?
Making sufficient savings for retirement is critical to ensure you can enjoy your later years without too many financial worries, but new data suggests some are saving far more than others. We look at the average pension pot by region.
-
Could colour diamonds add a sparkle to your portfolio?
Diamonds of various shades never go out of fashion, says Chris Carter