Business
Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton
Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton Canada New...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n \n \n \n Great-West Lifeco announces sale of Putnam Investments to Franklin Templeton\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Transaction unlocks the value of\n \n Putnam\n \n , and facilitates the continued focus of Lifeco's U.S. strategy on retirement and personal wealth\n \n \n \n \n \n Lifeco, Power, and\n \n Franklin Templeton\n \n will enter into a strategic partnership\n \n \n \n \n to drive value for all stakeholders\n \n \n \n \n \n Great-West Lifeco has agreed to sell Putnam Investments to\n \n Franklin Templeton\n \n , a leading at-scale and diversified global asset manager with a broad range of investment and distribution capabilities\n \n \n The transaction unlocks the value of Putnam Investments and facilitates the continued focus of Lifeco's U.S. strategy on retirement and personal wealth\n \n \n Great-West Lifeco will hold a 4.9% interest in\n \n Franklin Templeton\n \n on a long-term basis and will retain its controlling interest in PanAgora, a leading quantitative asset manager, complementing its ownership in other North American and European asset managers\n \n \n Great-West Lifeco to allocate initial\n \n US$25 billion\n \n of AUM to\n \n Franklin Templeton\n \n \n \n \n \n \n WINNIPEG, MB\n \n \n ,\n \n \n May 31, 2023\n \n \n /CNW/ - Great-West Lifeco Inc. (\"Lifeco\") (TSX: GWO) today announced that Franklin Resources, Inc. (NYSE: BEN), operating as\n \n Franklin Templeton\n \n , one of the world's largest independent and diversified asset managers, has agreed to acquire Putnam Investments from Lifeco. The total potential transaction consideration and retained value is estimated to be\n \n US$1.7\n \n -1.8 billion.\n \n Franklin Templeton\n \n will pay upfront consideration...