RBC to buy specialist credit manager BlueBay for £963 million

Tue Oct 19, 2010

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Royal Bank of Canada and BlueBay Asset Management have reached an agreement whereby the bank will acquire the fixed-income credit manager, in a deal that values BlueBay’s total shares at around £963 million.

BlueBay shareholders will receive formal documentation next month, with the acquisition expected to be implemented via a court-approved arrangement. The BlueBay board has unanimously recommended that shareholders vote in favour of the deal, which is expected to close by the end of December. The transaction will be funded using RBC’s existing cash resources....

ISSN: 2151-1845 / CDC10004H

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