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(From Hugin)
Fortis has increased its equity interest in Artemis Asset Management Limited ("Artemis"), a UK based investment management firm, from 67.1% to a sole shareholding position. ABN AMRO Asset Management had held a majority interest in Artemis since 2002, which was transferred to Fortis in April 2008. The step-up investment was pursuant to a prior contractual arrangement with Artemis management shareholders.
The cash consideration was EUR 397.2 million (GBP 317.2 million).
Artemis management remains fully committed to the business. Fortis and management are in close dialogue regarding future strategic options for Fortis's interest in Artemis.
Artemis was established in 1997 as a dedicated active investment management house specialising in investments for retail investors.
Clients' investments are spread across a range of unit trusts, an investment ...