Credit Suisse agrees to buy U.S. fund unit

Article Abstract:

Credit Suisse Group agreed to acquire Walburg Pincus Asset Management Inc. of the US for $650 million in a move to expand its global asset management business. Credit Suisse aims to rapidly build up its asset management business in major financial centers. Credit Suisse Asset Management has in excess of $200 billion in assets under management, and Walburg Pincus Asset Management, $22 billion. After the takeover,Credit Suisse combined assets under management will exceed $230 billion. Assets managed for private clients are not included in these figures. In all, Credit Suisse has around $680 billion if assets under management for private and institutional investors.

United States, Depository Credit Intermediation, Money Management Accts & Svcs, Mergers, acquisitions and divestments, Financial services industry, Financial services, Credit Suisse Group, Asset management accounts, Walburg Pincus Asset Management Inc.

---

Clariant, Ciba agree to merge, creating largest specialty-chemicals company

Article Abstract:

Ciba Specialty Chemicals and Clariant AG, two specialty chemical companies based in Basel, Germany, have agreed to combine their operations, a development that will create the biggest supplier of specialty chemicals in the world. The resulting firm, which will have global sales of around $13 billion, will retain the Clariant corporate name but will adapt Ciba's multicolored butterfly logo. The new Clariant will have Rolf W. Schweizer as its chairman and president while Rolf A. Meyer will assume the post of vice-chairman and CEO.

Comment:

Has agreed to combine its operation with Ciba Specialty Chemicals of Basel, Germany

Germany, Basic Chemical Manufacturing, Specialty Chemicals, Clariant AG, Ciba Specialty Chemicals Inc., Article

---

Similar abstracts:

• Abstracts: Credit Suisse bets on Latin America with Garantia. Merck sells stake in marketing deal for 870 million euros. Merck buys stake in U.S. biotech firm; drug maker bets on experimental therapies
• Abstracts: Nordic alliance to buy 60% stake in telecom firm. Tieto, Enator to merge, signaling IT consolidation. Swedish Match agrees to sell cigarette unit
• Abstracts: Durex unveils steamy ads to woo young U.S. buyers. Hearing to decide on U.K. plaintiffs in tobacco suit. BAT joins forces with Rothmans in $8.67 billion deal
• Abstracts: Investors sell telecom stocks, fearing price war. Degussa-Huels shows charge, shares decline

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.