Johannesburg, Mar 7 (I-Net Bridge) - International long-term savings, protection and investment group Old Mutual plc (OML) has received regulatory approval from the Swedish Financial Supervisory Authority for the disposal of its Nordic business to Skandia Liv.
The Nordic business comprises Old Mutual's long-term savings and banking operations in Sweden, Denmark and Norway. Danish regulatory approval for the sale was received earlier this month.
"Completion of the disposal now remains conditional only on approval by Old Mutual shareholders at the General Meeting on 14 March 2012. Subject to that approval being given, completion of the sale is expected to occur on or around 21 March 2012.
"We have today also announced a trading update on the Nordic business, which confirms that it has continued to benefit from its product depth and good operational performance," Old Mutual said.
Old Mutual is due to release its annual results for the year ended December tomorrow (Friday).
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