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Old Mutual completes sale of Finnish branch of Skandia
31-08-2012 12:40
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South African insurance group Old Mutual has completed the sale of the Finnish branch of Skandia Life Assurance Company to OP-Pohjola Group, continuing Old Mutual's focus on the streamlining of its business.
The proceeds from the sale will be applied to reduce debt.
As at June 30th, the branch had gross assets of €1.3bn.
The share price rose 0.97% to 166.70p by 12:45.
NR
The proceeds from the sale will be applied to reduce debt.
As at June 30th, the branch had gross assets of €1.3bn.
The share price rose 0.97% to 166.70p by 12:45.
NR
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