Cargill exits asset management business with sale of CarVal Investors

CHICAGO - Cargill Inc [CARGIL.UL] has agreed to sell fund manager CarVal Investors, representatives for both companies said on Thursday, marking the commodity trader’s exit from the asset management business.

Cargill is selling its economic interest in CarVal, which has about $10 billion under management, to a group of 17 CarVal employees, including its managing principals, chief financial officer and general counsel. The companies declined to disclose the price. Cargill wants to sell CarVal because Cargill is not actively managing the business, Olson said. The sale is unrelated to challenges facing the U.S. agriculture sector, including the trade war with China that has slowed American farm exports for more than a year, he said.

Cargill founded CarVal in 1987 and made it an independent subsidiary in 2006. The agribusiness will remain a significant investor in several of CarVal’s 23 funds and maintain its investments following the sale, according to CarVal.

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

Apollo is behind a $600 million loan to a public company and it's the latest sign that it's serious about taking on big banks in the lending businessPrivate equity firms broadly have expanded their credit divisions since the financial crisis as their investors have sought to balance their portfolios with safer assets.
แหล่ง: BusinessInsider - 🏆 729. / 51 อ่านเพิ่มเติม »

WSJ News Exclusive | Groupon Said to Be Pursuing Acquisition as Business Faces Pressure From InvestorsDaily-deals company Groupon is pursuing an acquisition amid discontent among shareholders about the firm’s financial performance and stock price, people familiar with the matter say. The target could be Yelp, the San Francisco-based online-review company, according to two other people familiar with the situation. Two drunks holding each other up at the bar. Groupon acquiring yelp! Hilarious, both a failure, that would be the end of Groupon, Yelp’s almost finished, peope turned away from yelp knowing darn well reviews Manipulated for money, thanks to the dummy stoppleman. He killed yelp & now walking out. Feel sorry for Shareholders.
แหล่ง: WSJ - 🏆 98. / 63 อ่านเพิ่มเติม »