CGNU, the life assurance group formed from the merger of Norwich Union and CGU, is in talks to dispose of its stake in a unit of South Africa’s biggest life insurer Old Mutual, the companies said on Friday. Mutual and Federal Insurance, in which Old Mutual has a 51% stake, said talks are taking place between Mutual and Federal and its main shareholders CGNU and Metropolitan Life, who together hold approximately 79% of the issued share capital. In the event of successful talks, Mutual and Federal would wish to acquire the entire share capital of CGNU’s South African unit CGU Holdings Limited of South Africa, Old Mutual said.