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HNA Capital US completes acquisition of stake in OMAM

Published 13 November 2017

HNA Capital US has completed the stake acquisition of OM Asset Management (OMAM) from Old Mutual.

The second tranche consists of 15,960,553 OMAM shares at a price of $15.75 per share in cash. HNA Capital US and Old Mutual plc now own 24.95% and 5.51% of OMAM’s stock, respectively.

In connection with the closing of the second tranche, Ingrid Johnson has stepped down from the OMAM Board of Directors. HNA Capital US expects to designate a second director to OMAM’s Board of Directors in the future.

Following the completion of the first tranche, Dr. Guang Yang, Chief Executive Officer of HNA Capital US, joined the OMAM Board of Directors on May 24, 2017.

Source: Company Press Release