OM Asset Management To Acquire Equity Interest In Landmark Partners

(RTTNews) - OM Asset Management plc (OMAM) announced a definitive agreement to acquire a 60% equity interest in Landmark Partners, a global secondary private equity, real estate and real asset investment firm. OMAM will pay approximately $240 million at closing with the potential for an additional payment. OMAM expects the transaction to be up to 12% accretive to 2017 Economic Net Income per share.

Landmark Partners specializes in secondary market transactions of private equity, real estate and real assets investments, with approximately $15.5 billion of committed capital as of March 31, 2016.

OM Asset Management also announced that, in order to advance the ongoing separation of OMAM and Old Mutual, OMAM has negotiated an acceleration and subsequent termination of the Deferred Tax Asset Deed and Seed Capital Management Agreement with Old Mutual, the result of which is that OMAM's ongoing liabilities to Old Mutual under both agreements shall be satisfied earlier than expected.