Dexia In Talks With New York Life About Asset Manager Sale

Law360, New York (September 20, 2013, 1:41 PM ET) -- Franco-Belgian investment services company Dexia Group has entered exclusive negotiations with New York Life Investments to sell its massive asset management arm for a yet-undisclosed amount, Dexia said Thursday.

Acquiring Dexia Asset Management will give its future owners access to European, Asian and Australian markets. The company says it invests €73 billion ($100 million) across all asset classes.

“All the viable entities will be sold so that they could find a new future with new investors,” Dexia spokeswoman Caroline Junius told Law360 on Friday. “Dexia Asset...
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