Aviva Investors To Sell River Road Asset Management - Quick Facts

(RTTNews) - Aviva Investors, the asset management business of Aviva plc (AV.L, AV), announced a definitive agreement to sell US equity manager River Road Asset Management, LLC to Affiliated Managers Group, Inc.

Jason Windsor, Group Chief Strategy and Development Officer, said: "The transaction is in line with Aviva Investors' strategy of simplifying its business and moving towards an integrated operating model and organisational structure. A simpler, more focused business will help Aviva Investors become a stronger third party manager and increase its contribution to the group. Aviva Investors is focused on becoming a fully-integrated asset manager offering products that deliver client outcomes with low volatility. A boutique US equity manager does not fit with this strategy."