X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Allen & Overy (A&O), Freshfields Bruckhaus Deringer and Linklaters are among a line-up of law firms advising on Old Mutual’s initial public offering of its wealth management arm, as the company continues a planned break-up of its business.

The Anglo-South African company announced in 2016 that it would split up its business, with Old Mutual Wealth Management rebranded as Quilter.

Quilter will list on the London and Johannesburg Stock Exchanges later this year alongside the South African business, Old Mutual Limited.

Linklaters is leading for Old Mutual on US and UK law, while the magic circle firm’s South African alliance firm Webber Wentzel is advising on local law. Linklaters is fielding a team including London corporate partner trio Iain Fenn, Dan Schuster-Woldan and Kanyaka Ramamurthi.

A&O is advising Quilter – which manages more than £114bn of investor money – on US and South African law, fielding a team comprising corporate partner Stephen Mathews, corporate finance partner David Broadley and US-qualified corporate partner Adam Wells. Johannesburg banking partner Lionel Shawe is also advising.

Freshfields, meanwhile is advising the sponsors, joint global coordinators and joint bookrunners JP Morgan, Merrill Lynch and Goldman Sachs, while South African firm Bowman Gilfillan is advising the banks on local law.

Old Mutual’s stake in its South African bank Nedbank will be distributed in part to Old Mutual Limited shareholders later this year, completing the four-way separation of the business.

The role for Linklaters comes after the firm advised on Quilter’s 2013 merger with investment firm Cheviot Asset Management.

This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.

A PREMIUM SUBSCRIPTION PROVIDES:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651

 

Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2018 ALM Media Properties, LLC. All Rights Reserved.