Dexia nears sale of asset group

 
Oliver Smith
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DEXIA, the Belgian financial firm, is looking to sell its asset management group to New York Life Investments, it said last night.

The company has to sell Dexia Asset Management under agreement with European regulators.

Dexia did not say how much New York Life Investments had offered for its asset management arm, which it had previously agreed to sell to GCS Capital for €380m (£321m) before the deal fell through.