Sumitomo Trust to Buy DBS Asset Management for $119 Million, Nikkei Says
Sumitomo Trust & Banking Co. of Japan will acquire DBS Asset Management from DBS Bank of Singapore in exchange for 10 billion yen ($119 million) in shares of Sumitomo unit Nikko Asset Management Co., the Nikkei newspaper said, without citing anyone. The transaction will be signed today, the report said.
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