Morgan Stanley has agreed to sell its retail asset management business, including Van Kampen Investments, to Invesco in a stock and cash deal valued at $1.5bn. The sale, expected to close in mid-2010, furthers Morgan Stanley’s push to focus on its institutional client base. Under the deal, Morgan Stanley will receive a 9.4% interest in Invesco while Invesco will gain Morgan Stanley’s retail asset management business, including the bank’s funds along with Van Kampen products, amounting to $119bn in assets under management.

This entry was posted by Gwen Robinson on Tuesday, October 20th, 2009 at 5:12 and is filed under Capital markets, M&A. Tagged with morgan stanley, Van Kampen. Edit this entry.