Old Mutual plc announces that its UK subsidiary Skandia UK Holdings Limited has completed the sale of the Bankhall Group (consisting of Bankhall Investment Management Limited, IFA Engine Limited, Portfolio Member Services (Holdings) Limited and their respective subsidiaries) to Sesame Group Limited, a subsidiary of Friends Provident plc.
The transaction is part of Old Mutual’s continuing commitment to streamline its operations. The total gross assets disposed of are £11.8m.
