Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:British Investment Manager Gobbles Big Apple Restructuring Firm Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 24, 2006

British Investment Manager Gobbles Big Apple Restructuring Firm

by: Neil Anderson, Managing Editor

A deal potentially worth $375 million just went down. AMVESCAP PLC has just bought six-year-old financial restructuring group WL Ross & Co. for a price of $100 million, plus five annual payments of up to $55 million each, AMVESCAP announced Sunday in a release. WL Ross manages over $3.5 billion in assets. The London-based global investment manager expects to complete the acquisition in the fourth quarter of the year, and will merge its own direct private equity business, INVESCO Private Capital, into WL Ross, to be managed by billionaire-founder Wilbur Ross himself.

AMVESCAP president and CEO Martin L. Flanagan seemed as excited about gaining Ross himself as he was about acquiring Ross's company.

"Wilbur Ross is the recognized leader in financial restructuring, and we are very excited that such a distinguished investor and his experienced team are joining AMVESCAP," Flanagan said in the release. "With his leadership of the company's direct private equity business, AMVESCAP will be uniquely positioned to deliver alternative investment strategies that provide innovative and enduring investment solutions for our clients." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2022: Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2022
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use