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Provider: Reuters Investment Profile
Provider: Wright Reports

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Dexia SA Enters into Exclusive Negotiations with New York Life Insurance Co's New York Life Investments to Sell 100% stake in Dexia Asset Management

Thursday, 19 Sep 2013 02:46pm EDT 

Dexia SA announced that it has decided to enter into exclusive negotiations with New York Life Investments, with a view to selling 100% of its shares in Dexia Asset Management, following the submission of a binding offer by New York Life Investments. New York Life Investments, a wholly owned subsidiary of New York Life Insurance Co, is an investment management firm, with USD 388 billion in assets under management, as of July 31, 2013. Any agreement by the parties would be subject to finalization of its key terms and of the employee consultation process in accordance with the applicable legal framework. 

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