Old Mutual buys 20% stake in BEE group

January 27, 2005

South Africa-and UK-listed insurance giant Old Mutual plc (OML) and Amabubesi Investments have entered into an agreement whereby Old Mutual will acquire a 20% stake...

...in the black economic empowerment (BEE) company, subscribe for preference shares, and will enter into an arrangement regarding an Investment Fund totalling 150 million rand.

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