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Rating:Columbia Sale May Complete 'In Days' Not Rated 4.0 Email Routing List Email & Route  Print Print
Friday, July 17, 2009

Columbia Sale May Complete 'In Days'

Reported by Sean Hanna, Editor in Chief

The sale of Columbia Management by Bank of America may now just be days away. A report published by Pensions & Investments claims that the deal could be "finalized over the next few days."

The leading contenders are Ameriprise Financial and BlackRock, according to the report. Both firms have been mentioned as finalists in the talks by industry sources speaking with MFWire.com over the course of the summer.

The sale will split Columbia into two parts: its $130 billion in money market assets would go to BlackRock while Ameriprise Financial would take over the equity and fixed income assets.

The trade publication said its sources are "familiar with the negotiations" but "declined to be identified.

The split off of the money fund business is something that industry sources have also shared with the MFWire.com. 

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