Company exits asset management business
Cargill Inc. said Thursday it plans to exit the asset-management business, selling its CarVal Investors subsidiary to a group of CarVal employees, reports theMinneapolis/St. Paul Business Journal.
Reuters has a reporton the deal for CarVal, which has about $10 billion under management.
Jay Olson, treasurer for Minnetonka-based Cargill and chairman of CarVal, said the agribusiness giant wanted to divest the unit because it wasn't actively managing the business.
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