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In turn, TDFa[euro](tm)s head Olivier Huart said that the sale is part of the French groupa[euro](tm)s strategy to concentrate on the local and German core markets and on developing its media services business unit.Country: FinlandSector: Media, TelecommunicationsTarget: Digita OyBuyer: First State European Diversified Infrastructure Fund FCP-SIF, First State Investments, Colonial First State Global Asset Management (CFSGAM)Vendor: TDF GroupType: LBOStatus: AgreedComment: The deal is said to be worth up to USD494.3m.
CFSGAM is a global investment management business that manages more than USD207bn of assets for clients across the globe.
The new entity is to be called CFS Group and will include Aussie Home Loans, Colonial First State Global Asset Management (CFSGAM), Count Financial and Financial Wisdom and other operations.
In a statement, the bank said, 'While CFSGAM has achieved significant growth, scale and diversification under the current ownership structure, the strategic review determined that an independent ownership model would provide greater benefits.'
It said, 'This review will consider long-term Commonwealth Bank shareholder value, including whether a separately listed CFSGAM would be better able to grow its business, serve the interests of its clients and attract and retain key personnel.'
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