Ameriprise Buys Columbia From BoA for Up to $1.2B

October 5, 2009

Bank of America plans to sell its long-term asset management business, Columbia Management, to Ameriprise Financial for as much as $1.2 billion in an all-cash deal. As of June 30, Columbia has $165 billion in assets under management, $93 billion of which was in equity and $72 billion in fixed income. The cash business managed by Columbia is not included in the transaction.

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