SunTrust shopping part of investment unit
Press release from the issuing company
Tuesday, April 13th, 2010
SunTrust Banks Inc. is in talks to sell a portion of its institutional investment management business to a UK-based global asset management firm.
On Monday, Henderson Group PLC confirmed talks with SunTrust (NYSE: STI) about acquiring a portion of RidgeWorth Investments. Atlanta-based SunTrust confirmed it is holding discussions about a sale, but said in a statement “the process is ongoing, there is no certainty a transaction will be consummated and the effect of any potential sale on the company’s financial results would not be significant.” (read more at Atlanta Business Chronicle)
