Old Mutual said it has received a number of approaches from third parties to buy its stake in OM Asset Management, as the financial services group explores ways to separate its four main businesses.

The company announced in March that it planned a breakup of its different divisions - Old Mutual Emerging Markets, Old Mutual Wealth, Nedbank and OM Asset Management - and it said on May 24 that it continues to assess its options. It previously said it expected the separation to be largely complete by the end of 2018.