The Traderszone Network

Published in TZ Latest News 4 February, 2016 by The TZ Newswire Staff

Exclusive: State Street nears deal for GE’s asset management arm – sources

State Street, a Boston-based asset manager, has prevailed over other bidders, including Goldman Sachs Group Inc (GS.N), for the business, and is now in the final stages of negotiating a deal with GE, the people said this week. An agreement could come as early as this month and value GE’s asset management business at as much as $500 million, the people added, cautioning that the negotiations could still fall through. “We have had a very high level of interest from potential acquirers of GE Asset Management (GEAM) in the market and the deal is progressing well.