Fixed IncomeMay 22 2013

Aberdeen completes $179.9m acquisition of Artio

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ByEleanor Lawrie

Aberdeen has finalised its takeover of US asset manager Artio Global Investors, which transferred over to the business yesterday.

Aberdeen has paid a consideration of $179.7m (£117.8m) based on a price of $2.75 per share, a premium of $46.3m over Artio’s unaudited net asset value at March 31 2013. Artio managed assets of $10.6bn at May 17 2013.

When the acquisition was announced in February, the group said it would expand Aberdeen’s North American business, and deepen its distribution network there, while adding to its fixed income range.

“This transaction is in line with Aberdeen’s strategy of undertaking infill acquisitions that will assist with growing our business organically. It will be of benefit to our North American business, a region we view as a key growth market for Aberdeen,” Martin Gilbert, chief executive of Aberdeen Asset Management, said when the takeover was announced in February.

“The integration of Artio’s operations will strengthen further our US fixed income expertise, in particular the addition of US total return and global high yield products, and will help to broaden and deepen our distribution network in the US.”