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Correction! Natixis Global Asset Management not American but...

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YodaObi

335 Posts.

04/10/17

02:58

Post #: 27638523
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Originally posted by YodaObi ↑

Well jace.h, this deal was announced today. Big American fundie buys 52% of Investors Mutual - price at 100% basis $300m. IM at 30/6/2017 managed $9.1 bill of Australian Equities. $9,100 millions of fum. IM is Plenty profitable, and American buyer has deep pockets.
Price paid equivalent to market cap/fum of 3.3%.

As reported in the wires "An international asset manager with more than $1.2 trillion in assets is boosting its Australian presence with its first major local acquisition.
Natixis Global Asset Management purchased 40% of Investors Mutual (IML) for $120 million from Pacific Current Group. A further 11.9% was acquired from IML founder Anton Tagliaferro, meaning a total transaction of about $155 million. Pacific Current elected not to exercise its pre-emptive rights, finding it could not match Natixis' offer terms."

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Correction! Natixis Global Asset Management not American but French. Being jet lagged in NYC not fun.

CGA Price at posting: $1.00 Sentiment: None Disclosure: Not Held
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