Legg Mason Sells Its Private Capital Management Unit

July 31, 2013

On July 25, 2013, Reuters reported that Legg Mason (NYSE: LM) had sold its equity investment unit Private Capital Management to the management team.

On July 25, 2013, Reuters reported that Legg Mason (NYSE: LM) had sold its equity investment unit Private Capital Management to the unit’s management team.  The terms of the transaction were not disclosed.  Legg Mason will reportedly take a $3 million charge in connection with the sale.

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Categories

Investment Manager M&A, Transactions