Carlyle Group (CG) to Acquire TCW from SocGen; Marc Stern Named Chairman
Tweet
Share
E-mailGet Alerts CG Hot Sheet
Join SI Premium – FREE
According to reports Thursday, The Carlyle Group (NYSE: CG) has agreed to acquire asset management firm TCW Group from Société Générale (OTCBB: SCGLY). The WSJ reported the deal in headlines earlier and no official announcement has been made by either firm.
Blomberg notes that terms weren't disclosed and the deal should close within the first-quarter of 2013.
Following the transaction, TCW employees and management will have a 40 percent ownership stake in the firm. Marc Stern will become Chairman while David Lippman was named TCW Group president and CEO.
Carlyle shares are up 2.8 percent on the session, from 1.6 percent higher when headlines broke at 11:00am EDT.
Blomberg notes that terms weren't disclosed and the deal should close within the first-quarter of 2013.
Following the transaction, TCW employees and management will have a 40 percent ownership stake in the firm. Marc Stern will become Chairman while David Lippman was named TCW Group president and CEO.
Carlyle shares are up 2.8 percent on the session, from 1.6 percent higher when headlines broke at 11:00am EDT.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Evercore says mutual funds cut bank stock holdings in second quarter
- NVIDIA (NVDA) in talks to invest in data-center company Cloverleaf Infrastructure - WSJ
- reAlpha completes $8.5M InstaMortgage acquisition
Create E-mail Alert Related Categories
Mergers and Acquisitions, Trader TalkRelated Entities
The Carlyle GroupSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
