Old Mutual unveils BEE deal in Namibia

September 5, 2006

Old Mutual has unveiled its much anticipated black economic empowerment (BEE) transaction in Namibia which will result in a broad range of black stakeholders acquiring direct ownership of N$308-million of the Old Mutual Group's Namibian businesses...

The transaction incorporates three separate but interdependent BEE transactions for the group subsidiaries in Namibia, namely Old Mutual Namibia, Nedbank Namibia and Mutual & Federal Namibia.

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