Morgan Stanley sells retail business to Invesco for $1.5bn

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US - Morgan Stanley will sell its retail business, including Van Kampen Investments, to Invesco for $1.5bn as the firm increases its focus on the institutional market.

Invesco will take on some US$119bn in assets once the deal closes in mid-2010, including Morgan Stanley's equity management business in Japan. Morgan Stanley Investment Management (MSIM) will keep ...

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