HNA to Acquire Ownership Stake in OM Asset Management from Old Mutual
04.05.17
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The Firm is representing HNA Group Co. Ltd. in connection with its agreement to acquire from Old Mutual plc an approximately 24.95% ownership stake in OM Asset Management plc (NYSE: OMAM) for approximately $446 million in cash. The transaction is expected to close in the second half of 2017, subject to the satisfaction of customary closing conditions.
Old Mutual plc is an international investment, savings, insurance and banking group. OM Asset Management plc is a global, multi-boutique asset management company with $240.4 billion in assets under management as of December 31, 2016.
The Simpson Thacher team includes Gary Horowitz, Elizabeth Cooper, Stephen Wiseman, Erika Tang, Ashley Yoon and Sam Egendorf (M&A); Clare Gaskell and Paul Dodd (Regulatory – London); Rajib Chanda (Investment Management); Sarah Katz (Tax); and Ellen Frye (Antitrust).