Old Mutual mulls Reit for its property assets

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UAP Old Mutual Tower, a 33-storey office complex in Upper Hill, Nairobi. FILE PHOTO | KANYIRI WAHITO | NMG

Old Mutual Holdings Plc says it is considering packaging its properties segment into a real estate investment trust (Reit) with the view of better managing its exposure to the sector.

Reits are vehicles, owned by a group of investors, that hold properties for income. By packaging its assets into such vehicles, the insurer could be looking to offload part of its ownership to other investors.

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