Ameriprise Financial Inc is in advanced talks to purchase most of ING Group's asset management business in Asia, Bloomberg reported, citing two people with knowledge of the matter. The companies are still negotiating on price and an announcement may come in two to three weeks, the agency said.The deal for the Asian asset management unit would exclude ING's joint ventures in the region, one of the people told the agency. ()ING and Ameriprise failed to comment when asked by Bloomberg. Neither could immediately be reached by Reuters.ING officially launched the sale of its Asian insurance and asset management operations in March, though the process was long in the making.
Ameriprise Financial, Inc. (Ameriprise Financial) is a holding company primarily engaged in business through its subsidiaries. Shares of AMP fell by 2.61% or $-1.5/share to $55.91. In the past year, the shares have traded as low as $36.00 and as high as $60.47. On average, 1202780 shares of AMP exchange hands on a given day and today's volume is recorded at 1358422.
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