Old Mutual Acquires Further 37.3% Stake in UAP, Now Owns 60.7%

Old Mutual buys 37.3% of UAP, increasing stake to 60.7%; consideration ~$155.5m, to be paid in cash.

* Transaction expected to close during 2015; subject to various regulatory approvals; * Old Mutual says it’s identified East Africa ‘as a key region within sub-Saharan Africa in which we need scale’. Source: Bloomberg