Investec to sell 10% of asset manager in March spin-off
JOHANNESBURG – Anglo-South African financial services group Investec will sell about 10% of its asset management business, to be renamed Ninety One, when it is spun off as part of a demerger expected in March.
Investec announced the structural overhaul last year in a move intended to strengthen the asset management business and Investec’s remaining banking and wealth operations.
In an update published on Friday, Investec said it plans to sell about 10% of Ninety One, which will be split between London and Johannesburg under a dual-listing.
Source: iol.co.za
