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Rating:Janus' Slide Goes All The Way to Japan Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 10, 2012

Janus' Slide Goes All The Way to Japan

News summary by MFWire's editors

Janus has found a big investor based a long way from their Rocky Mountain home.

The publicly traded asset management shop based in Denver, Colorado has sold a 20 percent stake in the firm to Dai-ichi, a Japanese financial company.

The SEC filing for the deal notes that the Japanese firm will purchase "at least 15%, and no more than 20%, of the issued and outstanding shares of common stock" from Janus.

Reporter Taiga Uranaka picked up the story for Reuters, and reported the price of the sale would likely be around $300 million.

Reuters also reported the deal to be for up to 14 million shares. Dai-ichi will take one seat on Janus' board following the deal.

This deal follows a report from Bloomberg last month that Janus had seen profit declining by 44 percent last quarter. The article noted the shop was down to $152.4 billion AUM. 

Edited by: Ben Geier

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