ABN Amro Asset Management is merging with Artemis Investment Management in a deal which will give ex...
ABN Amro Asset Management is merging with Artemis Investment Management in a deal which will give existing Artemis shareholders and employees 42% ownership of the original company.
According to a joint statement from the two parties, the deal is billed as a merger rather than a takeover, however, ABN Amro Asset Management will own 58% of the enlarged business.
Founder shareholders of Artemis and their employees will own 37% of the acquired firm, while outside shareholders will own 5%.
Artemis fund managers appear to hold many of the cards as most of its fund managers will run the newly combined portfolio.
Both firms will continue to operate out of Edinburgh and London, with funds under management of around £2bn.
Agreement is expected to be signed by the two firms next month.
For more details on the merger, see tomorrow's Investment Mid-Week.
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