Goldman Sachs to buy European asset manager NN for $1.9 bln
By Adria Calatayud Goldman Sachs Group Inc. said Thursday that it has agreed to buy European asset manager NN Investment Partners from NN Group NV for around 1.6 billion euros .
The U.S. banking giant said NN Investment Partners is highly complementary to Goldman Sachs Asset Management's existing European footprint and will strengthen its fund management and distribution platform. Based in The Hague, Netherlands, NN Investment Partners has around $355 billion in assets under supervision and approximately $70 billion in assets under advice, Goldman Sachs said.
NN Group said the deal is worth EUR1.7 billion in cash, consisting of a base purchase price of EUR1.52 billion and a ticking fee and excess capital to be distributed as a dividend ahead of condition. NN Group said it and Goldman Sachs Asset Management will enter into a ten-year strategic partnership under which the combined entity will provide asset management services to NN Group as part of the deal.
Goldman Sachs said the deal is expected to close by the end of the first quarter of 2022, but remains subject to regulatory and other approvals and conditions.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Permira mandates Goldman Sachs for up to $2 bln sale of Tricor - sourcesPrivate equity firm Permira has mandated Goldman Sachs (GS.N) to run a sale of business services company Tricor Group in a deal that could fetch up to $2 billion, three people with knowledge of the transaction told Reuters.
Consulte Mais informação »
Oxford Properties to Buy $2.2 Billion in Industrial Properties From KKROxford Properties’ $2.2 billion industrial-property deal with KKR is the latest sign of strong investor demand for warehouses and distribution centers serving the online retail boom
Consulte Mais informação »
U.S. investment in Afghanistan bought infrastructure, corruption and a lot of weaponryRachel Maddow reviews how U.S. time and treasure was spent over the past two decades in Afghanistan, with some spent on actual infrastructure, huge quantities lost to a corrupt elite, and lots more spend on weaponry, some of which is now in the hands of the Taliban.
Consulte Mais informação »
UK court sets scene for $14 bln-plus class action against MastercardA London court on Wednesday approved a 10 billion pound-plus ($14 billion-plus) class action against global payments processor Mastercard (MA.N) that claimants said could entitle 46 million British adults to roughly 300 pounds each if it is successful.
Consulte Mais informação »
Goldman adds Baker Hughes to conviction buy list, says energy stock will catch up to its peersNew for subscribers: Goldman adds Baker Hughes to conviction buy list, says energy stock will catch up to its peers. Check out CNBCPro today.
Consulte Mais informação »
Stephen Bear claims he's bought club and buying plush car with sex video profitsStephen Bear has claimed he's bought a nightclub and is shopping for a supercar, expensive splurges that appear to have come from the profits from his explicit videos
Consulte Mais informação »