Anglo-South African wealth manager Old Mutual has confirmed that it is close to selling its asset management operations in the US as part of its restructuring plan.
The company said that it has received expression of interest from multiple third parties for the acquisition of its controlling stake in OM Asset Management.
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The company did not disclose the name of any potential buyer.
"There can be no certainty that these approaches will lead to any transaction or any certainty as to the terms on which any such transaction might proceed. Further statements will be made if and when appropriate," the company said in a statement.
In March, the company announced plans to split its operations into four parts– Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank and OM Asset Management following a strategic review.
The group expects the separation of the units to complete by the end of 2018.
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