Old Mutual Disposal

said Tuesday that it has agreed to sell its single-strategy asset-management unit to private-equity company TA Associates for a total consideration of £600mln
Old Mutual’s single-strategy unit had funds under management of £25.7bln as of Sept. 30  Net flows of £3.5bn in the 9 months to Sept. PBT in 2016 was £60mln and £36mln for first half 2017

As of 8.41am the stock was trading up 3.78% at 221.2p