St. Paul Travelers' Divestiture Plan Gets Kudos
NU Online News Service, March 28, 3:14 p.m. EST?The St. Paul Travelers Companies' newly announced plan to divest its entire 79 percent stake in its asset-management unit is getting a favorable review from a major ratings agency.[@@]
The country's second largest commercial insurer disclosed Friday it is implementing a program to sell off its stake in Nuveen Investments Inc. which will be completed in three separate phases. The latest announcement follows the statement from company management in January that it was exploring various strategic alternatives for divesting its Nuveen shares.
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