Artemis sale considered as Fortis acquires remaining share

Fortis has acquired the remaining further 32.9% of Artemis giving it sole ownership and lining up Ar...

Fortis has acquired the remaining further 32.9% of Artemis giving it sole ownership and lining up Artemis for a possible future sale. Fortis owned 67.1% of shares in the asset manager since it was transferred over from ABN AMRO in April and has increased this in accordance with a prior contractual arrangement with Artemis management shareholders. Fortis paid £317.2m for the remaining stake in the business, which currently has assets under management of around £14.8bn, as at 30 June 2008. Artemis managing director Dick Turpin has written to clients saying: “Fortis has advised us of its...