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  1. Wealth
January 12, 2009

Sunday Telegraph: New Star sale expected soon

By Spear's

A buyer for troubled fund manager New Star Asset Management could be announced by the end of the month after a number of first-round indicative offers were made for the group last week.

A buyer for troubled fund manager New Star Asset Management could be announced by the end of the month after a number of first-round indicative offers were made for the group last week.

Investment bank UBS has been charged with orchestrating a sale of the company, and last Wednesday received a string of bids from a number of investment houses.

The Sunday Telegraph revealed that possible buyers include Schroders, which is considered a strong contender with a cash surplus of about £700m on its balance sheet.

To read the whole article, visit telegraph.com
 

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