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Eureko to buy 90 per cent share in F&C

European insurance and financial group Eureko has agreed to acquire a 90 per cent share in Foreign & Colonial Management for £414m.

Eureko has Euro £50.4bn under management through its subsidiary Eureko Global Asset Management. F&C and EGAM will integrate fully their global activities and become a unified asset management platform. The resulting entity will trade under the F&C name and have a combined asset base of Euro £75.6bn.

Eureko chief executive Joao Talone says: “The acquisition of F&C and its merger with EGAM clearly places asset management, along with insurance, at the core of our strategic business.”

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