Old Mutual plc Separates From OM Asset Management plc

Skadden advised Old Mutual plc on the strategic and managed separation of its U.S. asset management business OM Asset Management plc (OMAM) through various public and private disposals for an aggregate consideration of more than $2 billion since 2014. The separation of OMAM was effected through (i) an initial public offering and listing of OMAM on the New York Stock Exchange in 2014, (ii) the two-step sale of a 24.95 percent holding to HNA Capital US in 2017, and (iii) four separate secondary public offerings and two off-market buy-back transactions by OMAM in 2015, 2016 and 2017.