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M&A Deal Summary

Old Mutual Acquires Fleming Offshore Banking

On April 19, 2001, Old Mutual acquired financial services company Fleming Offshore Banking from J.P. Morgan

Acquisition Highlights
  • This is Old Mutual’s 2nd transaction in the Financial Services sector.
  • This is Old Mutual’s 3rd transaction in the United States.

M&A Deal Summary
Date 2001-04-19
Target Fleming Offshore Banking
Sector Financial Services
Buyer(s) Old Mutual
Sellers(s) J.P. Morgan
Deal Type Divestiture

Target

Fleming Offshore Banking

United States
Fleming Offshore Banking is a provider of offshore banking, investment and fiduciary services for the benefit of local and international high net worth clients.

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Buyer(S) 1

Buyer

Old Mutual

Pinelands, United Kingdom
Category Company
Founded 1845
Sector Financial Services
Revenue 13.6B GBP (2015)
DESCRIPTION

Old Mutual Ltd. is an international financial services company with expanding operations in life assurance, asset management, banking, and general insuarnce. Old Mutual was formed in 1845 and is based in Pinelands, South Africa.

DEAL STATS #
Overall 3 of 8
Sector (Financial Services) 2 of 3
Type (Divestiture) 1 of 2
Country (United States) 3 of 4
Year (2001) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-02 Unified Life Insurance

Texas, United States

Unified Life Insurance Co. is a Texas domiciled life assurance company licensed to do business in 43 states.

Buy $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-04-26 Fidelity and Guaranty Life Insurance

United States

Fidelity and Guaranty Life Insurance Co. is a fast growing provider of fixed interest based retirement and life assurance products. F&G Life distributes its products primarily through independent agent networks known as Master General Agents ("MGAs"). F&G Life had $5 billion of assets under management at 31 December 2000.

Buy $635M

Seller(S) 1

SELLER

J.P. Morgan

New York, New York, United States
Category Company
Sector Financial Services
DESCRIPTION

J.P. Morgan & Co. is a provider of financial services for individuals, businesses, and governments.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
Country (United States) 1 of 2
Year (2001) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-10-16 J.P. Morgan Chase & Co - Seven Branches

United States

J.P. Morgan Chase & Co - Seven Branches provides various banking services.

Sell -
Mergr

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