MassMutual Closes on OppenheimerFunds Sale

May 29, 2019 by Allison Bell

Massachusetts Mutual Life Insurance Company has completed selling OppenheimerFunds to Invesco Ltd., a money manager, for about $5.7 billion in Invesco stock.

MassMutual has emerged from the deal with a 15.7% stake in Invesco.

The companies announced the deal in October.

Invesco is now managing $1.2 trillion in assets.

MassMutual bought OppenheimerFunds in 1990, from British & Commonwealth Holdings PLC, for $150 million.

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Originally Posted at ThinkAdvisor on May 28, 2019 by Allison Bell.