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Deal snapshot: DST TO ACQUIRE REMAINING INTEREST IN US, UK JVS FROM STATE STREET FOR USD 332.6M.

MANews-(C)2009-2017

US-based strategic advisory, technology, and operations outsourcing company DST Systems, Inc. (NYSE: DST) and US-based financial services firm State Street Corp. (NYSE: STT) have inked definitive agreements for DST to acquire State Street's ownership interest in the Boston Financial Data Services, Inc. joint venture and the International Financial Data Services Ltd. joint venture in the UK, the company said.

BFDS provides shareholder recordkeeping, intermediary and investor services, and regulatory compliance solutions to financial services clients in the United States. IFDS UK is an investor and policy holder administrative services and technology provider to the collective funds, insurance, and retirement industries.

Country: USA

Sector: Banking/Financial Services

Target: State Street stakes in Boston Financial Data Services, International Financial Data Services joint ventures

Buyer: DST Systems

Vendor: DST Systems

Deal size in USD: 332.6m

Type: Corporate Acquisition

Financing: Cash and Stock

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:4EUUK
Date:Mar 27, 2017
Words:148
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