Old Mutual - Proposal from HSBC regarding Nedbank

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Slaughter and May, working as an integrated team with Bowman Gilfillan, are advising Old Mutual plc on a proposal from HSBC Holdings plc to acquire a controlling shareholding in Nedbank Group Limited. Old Mutual holds an approximately 52% stake in Nedbank.

The making of a binding offer by HSBC is subject to a number of pre-conditions. In order to satisfy these pre-conditions, a period of exclusivity has been granted by Old Mutual to HSBC.

Slaughter and May is advising on English law and Bowman Gilfillan is advising on South African law.

Glen James (partner), Richard Smith (partner), Matthew Smith (associate), Jeremy Watson (associate)

Bowman Gilfillan: Ezra Davids (partner), Charles Young (associate)