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News: PPT Brightsphere Investment Group Announces Divestiture Of Affiliates Barrow, Hanley,...

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    July 26 (Reuters) - Brightsphere Investment Group Inc BSIG.N :

    • ANNOUNCES DIVESTITURE OF AFFILIATES BARROW, HANLEY, MEWHINNEY & STRAUSS AND COPPER ROCK CAPITAL PARTNERS
    • ABOUT $335 MILLION OF EXPECTED AFTER-TAX PROCEEDS FROM DIVESTITURES ENABLING US TO REDUCE DEBT AND REPURCHASE SHARES
    • DIVESTITURES COULD GENERATE DOUBLE DIGIT ACCRETION TO 2021 ENI PER SHARE
    • AGREE TO SELL 75.1% OWNERSHIP INTEREST IN BARROW HANLEY TO PERPETUAL LIMITED FOR $319 MILLION
    • AGREED TO SELL ITS EQUITY INTERESTS IN COPPER ROCK TO SPOUTING ROCK ASSET MANAGEMENT LLC AND COPPER ROCK MANAGEMENT
    • ANTICIPATES TOTAL AFTER-TAX PROCEEDS FROM COPPER ROCK'S TRANSACTION OF ABOUT $15 MILLION
 
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