Invesco Pays $1.5 Billion for Morgan Stanley Unit
October 20, 2009 by AJ · Leave a Comment
Morgan Stanley agreed on Monday to sell its mutual fund business to Invesco for $1.5 billion, as the Wall Street bank restructures its money-losing asset management division. Under the deal for the retail asset management business, which includes mutual fund subsidiary Van Kampen Investments, Morgan Stanley will get $500 million in cash and a 9.4 percent stake in Invesco, an independent investment management company. Check out the story below.
