New York-based OMAM US is set to acquire a 24.95% stake in OM Asset Management in a two-stage deal worth $446m. HNA Capital parent company, London-based Old Mutual, said the agreement would comprise a 9.95% sale of HNA Capital shares held by Old Mutual at $15.30 per share, followed by a further 15% of shares, sold at $15.75 each. The first part will be subject to US antitrust clearance, expected in 30 days, while the second part, subject to regulatory approval, is expected to close during H2 2017.
New York-based HNA Capital US is set to acquire a 24.95% stake in OM Asset Management in a two-stage deal worth $446m. OMAM parent company, London-based Old Mutual, said the agreement would comprise a 9.95% sale of OMAM shares held by Old Mutual at $15.30 per share, followed by a further 15% of shares, sold at $15.75 each. The first part will be subject to US antitrust clearance, expected in 30 days, while the second part, subject to regulatory approval, is expected to close during H2 2017.