Strategy

Aberdeen Asset Management Buys DeAM in Australia

Stephen Harris 23 March 2007

Aberdeen Asset Management Buys DeAM in Australia

UK-listed Aberdeen Asset Management has agreed to buy the Australian fund management businesses of Deutsche Bank for a maximum of £61 million in cash. The final price of the deal will depend on the net asset value and revenues of the target businesses at the time of completion. Last year, the businesses had revenues of £12.5 million, and made a combined loss for the year of £1.5 million.

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