Private equity firm Permira is competing with U.S. asset
managers and an insurance group to buy the asset management arm of
Franco-Belgian bank Dexia SA (DEXB.BT), Reuters news agency
reported Wednesday on its website, citing unnamed sources.
Affiliated Managers Group Inc. (AMG), Federated Investors Inc.
(FII) and New York Life Insurance Co. are considering binding bids
for Dexia Asset Management, while Australia's Macquarie Group Ltd.
(MQG.AU) is also sizing up the business, the report quoted the
sources as saying.
Dexia hopes the asset management arm could fetch about EUR750
million ($927 million), the report cited one of the sources as
saying.
Dexia wasn't available for comment, while Permira and the other
companies named declined comment or weren't immediately available
for comment, the report said.
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