Summary
LONDON (Reuters) - New Star Asset Management could find a buyer for its business even before its investors vote on a debt-for- equity swap that will see its banks take hold of the troubled fund manager.
Investors may find themselves asked to support a takeover thrashed out over the Christmas break at a January shareholder meeting, sources close to New Star said. A deal may value the group at around 200 million ($297.5 million), or about 8 pence per share, said Jason Streets at Evolution Securities.See the full content of this document
Extract
Quickfire New Star Buy Could Bag a Bargain
New Star's founder and Chief Executive John Duffield, a well- known figure in London financial circles, is set to walk away onc...
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