Great-West Lifeco will keep its controlling interest in quantitative asset manager PanAgora, and realize the value of Putnam’s seed capital
, which, together with closing adjustments, are estimated to be worth US$375-million to US$425-million.Under the partnership, Great-West Lifeco will distribute Franklin Templeton products and allocate an initial US$25-billion in assets under management to Franklin Templeton’s specialist investment managers within 12 months of the deal closing.
Great-West Lifeco has also agreed to retain shares representing about a 4.9 per cent stake in Franklin Templeton for a minimum five-year period.Checking box will enable automatic data updates.
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