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Marsico, partners to receive $120 million for sale


Thomas Marsico, his family and top employees at his money management firm will share $120 million in cash for the sale of 50 percent of Marsico Capital Management, the money management firm and mutual fund adviser based in Denver. Last month BankAmerica Corp. said it had decided to exercise its option to acquire 50 percent of Marsico's firm. Details of the transaction, which Marsico and BankAmerica previously had not disclosed, were included in a preliminary proxy statement which Marsico Capital Management filed Dec. 1 with the SEC.