Reuters: Private Equity: Suitors circle $1 bln Dexia Asset Management -sources

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Suitors circle $1 bln Dexia Asset Management -sources Apr 26th 2012, 11:03 By Simon Meads and Victoria Howley LONDON, April 26 | Thu Apr 26, 2012 7:03am EDT LONDON, April 26 (Reuters) - Buyout firms are vying with Australia's Macquarie for Dexia's $1 billion asset management arm, people familiar with the situation said, as the state supported Franco-Belgian bank carves up operations following a massive loss in 2011. Private equity groups Advent International, Bain, CVC , Permira and Warburg Pincus are among those to have made offers for Dexia Asset Management, three people said. Australian bank and asset manager Macquarie also bid for the business, the people said. Bidders are waiting to hear whether they have been taken into the second stage of the sale, which according to one person could see the business fetch up to 750 million euros ($988 million) The private equity groups and Macquarie declined to comment. Dexia also declined to comment. (Reporting by Simon Meads)

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