Benzinga | Apr 12, 2021 07:03AM EDT

Ameriprise Financial To Acquire BMO's EMEA Asset Management Business For $845M In Cash

Ameriprise Financial, Inc. (NYSE:AMP) today announced that it has signed a definitive agreement with BMO Financial Group (BMO) to acquire its EMEA asset management business for ?615 million, or approximately $845 million. The all-cash transaction adds $124 billion of AUM in Europe and is currently expected to close in the fourth quarter of 2021, subject to regulatory approvals in the relevant jurisdictions.