OMAM Announces Completion of Final Equity Purchase by HNA Capital US
10 Novembre 2017 - 10:55PM
Business Wire
OM Asset Management plc (NYSE: OMAM) announced the closing of
the second tranche of the two-step sale of a minority interest in
OMAM by Old Mutual plc to HNA Capital US. The second tranche
consists of 15,960,553 OMAM shares at a price of $15.75 per share
in cash. HNA Capital US and Old Mutual plc now own 24.95% and 5.51%
of OMAM’s stock, respectively.
In connection with the closing of the second tranche, Ingrid
Johnson has stepped down from the OMAM Board of Directors. HNA
Capital US expects to designate a second director to OMAM’s Board
of Directors in the future. Following the completion of the first
tranche, Dr. Guang Yang, Chief Executive Officer of HNA Capital US,
joined the OMAM Board of Directors on May 24, 2017.
Additional information regarding the transaction is available on
OMAM's website at ir.omam.com.
About OMAM
OMAM is a global, multi-boutique asset management company with
$235.9 billion of assets under management as of September 30,
2017.1 Its diverse Affiliates offer leading, alpha generating
investment products to investors around the world. OMAM’s
partnership approach, which includes equity ownership at the
Affiliate level and a profit sharing relationship between OMAM and
its Affiliates, aligns the interests of the Company and its
Affiliates to work collaboratively in accelerating their growth.
OMAM’s business model combines the investment talent,
entrepreneurialism, focus and creativity of leading asset
management boutiques with the resources and capabilities of a
larger firm. For more information about OMAM, please visit the
Company’s website at www.omam.com.
1 OMAM has executed a non-binding term sheet to sell its stake
in Heitman LLC to Heitman’s management; therefore, AUM and flow
data removes Heitman beginning in the third quarter of 2017. Under
U.S. GAAP and ENI, financial results will continue to include
Heitman until the transaction closes at year-end 2017 or early
2018.
OMAM- 201785.1
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version on businesswire.com: http://www.businesswire.com/news/home/20171110005720/en/
OMAMBrett Perryman, 617-369-7300ir@omam.com
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