Old Mutual sells GNI Holdings to Man Group

Old Mutual has sold GNI Holdings Limited to Man Group for a base consideration of £100m, payable in ...

Old Mutual has sold GNI Holdings Limited to Man Group for a base consideration of £100m, payable in cash at completion. GNI is a provider of derivative brokerage and collateral management services across global fixed interest, equity, commodity and foreign exchange markets. It was acquired by Old Mutual as part of its purchase of Gerrard Group plc in January 2000. Net assets to be transferred on completion are expected to amount to approximately £65m.