Administration April 21, 2009
Lincoln to Sell Asset Management Unit
April 21, 2009 (PLANSPONSOR.com) - U.S. life insurer
Lincoln National Corp. is selling its Delaware Investments
asset management unit, sources familiar with the matter told
Reuters.
Reported by Rebecca Moore
According to the sources, bids are expected in the next couple of weeks, and the Philadelphia-based firm is expected to attract interest from both private equity and strategic buyers.
The sale of Delaware Investments, which had more than $115 billion in assets under management as of December 31, is being handled by Goldman Sachs, the sources said, according to Reuters.
Lincoln was not immediately available to talk to the news service, while Goldman declined to comment.You Might Also Like:
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