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Article: NORTHERN TRUST TO ACQUIRE FINANCIAL SERVICES GROUP.

Article from:
AsiaPulse News
Article date:
November 22, 2004
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(Full text of a statement. Contact details below.)

CHICAGO, Illinois, Nov 22 /PRNewswire-AsiaNet/ - Northern Trust Corporation and ING Group N.V. (Netherlands) announced today that they have reached an agreement for Northern Trust to acquire Baring Asset Management's Financial Services Group (FSG) for approximately 260 million pounds Sterling (approximately US$480 million at current exchange rates), subject to adjustments to reflect changes in net assets, revenues, and other stipulations. FSG is the institutional fund administration, custody, and trust services arm of Baring Asset Management, a unit of ING Group.

The agreement is subject to applicable ...

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