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BRIEF-Brightsphere Investment Group Announces Agreement To Sell Affiliate, Thompson, Siegel And Walmsley

05/09/2021 18:30
BRIEF-Brightsphere Investment Group Announces Agreement To Sell Affiliate, Thompson, Siegel And Walmsley

- Brightsphere Investment Group Inc BSIG.N:

  • PRESS RELEASE - BRIGHTSPHERE INVESTMENT GROUP INC. ANNOUNCES AGREEMENT TO SELL AFFILIATE, THOMPSON, SIEGEL AND WALMSLEY LLC

  • BRIGHTSPHERE INVESTMENT- CO TO RECEIVE $254 MILLION IN CASH FOR ITS 75.1% OWNERSHIP INTEREST IN TSW AND ITS SEED CAPITAL INVESTMENTS IN TSW'S STRATEGIES

  • BRIGHTSPHERE INVESTMENT - CO, MANAGEMENT TEAM OF THOMPSON, SIEGEL AND WALMSLEY ENTERED AGREEMENT TO SELL 100% OF EQUITY INTERESTS IN TSW TO PENDAL

  • TOTAL EXPECTED AFTER-TAX PROCEEDS TO BRIGHTSPHERE OF APPROXIMATELY $196 MILLION

  • BRIGHTSPHERE INVESTMENT- PENDAL WILL ADDITIONALLY BUY 24.9% OWNERSHIP INTEREST IN TSW HELD BY TSW MANAGEMENT TEAM

  • BRIGHTSPHERE INVESTMENT GROUP - TRANSACTION IS ANTICIPATED TO CLOSE IN Q3 OF 2021

  • PENDAL HAS AGREED TO ACQUIRE BRIGHTSPHERE'S SEED CAPITAL IN TSW STRATEGIES

  • MORGAN STANLEY & CO. LLC ACTED AS FINANCIAL ADVISOR TO BRIGHTSPHERE

Source text for Eikon: ID:nBw3cxF6Ha

Further company coverage: BSIG.N


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