Old Mutual U.S. Unit Buys $240 Million Landmark Partners Stake

  • OM Asset Management buying a 60% stake in private-equity firm
  • Deal will end some of OMAM’s liabilities to Old Mutual

Old Mutual Plc, the U.K. insurer splitting its business into four separate units, said its U.S.-based asset-management company is buying 60 percent of Landmark Partners Inc., a move that will end some of the unit’s liabilities to its London parent.

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