MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, May 2, 2005 Fortis Denies Complete Sale The Wall Street Journal Europe apparently got it wrong last week when it reported that Fortis was planning a sale of its asset management arm. Or maybe it didn't. Joop Feilzer, a member of the Executive Committee responsible for Fortis Investments, went on the record saying that "Fortis continues to strongly believe in the asset management business," but he did not rule out any transaction whatsoever. "In view of developments in the asset management industry, we are seriously looking into all possible options to accelerate the future growth of Fortis Investments. In that context a complete sale is excluded," he said. That statement appears to leave an "incomplete" sale of the unit as a possibility. One way that may happen is for the Fortis to spin Fortis Investments off in an IPO but to retain a stake asset management business. That business could be worth nearly $1 billion. Printed from: MFWire.com/story.asp?s=9607 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |