March 12, 2020 / 3:16 PM / 23 days ago

Investec halts unit stake sale due to market volatility

March 12 (Reuters) - South Africa-based banking group Investec said on Thursday it would not proceed with a 10% stake sale of its asset management business due to volatile market conditions.

The company said it will, however, push ahead with its demerger plans, and that admission of its asset management business, Ninety One, on the London and Johannesburg exchanges will take place on March 16. (Reporting by Samantha Machado in Bengaluru; Editing by Shinjini Ganguli)

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