On August 26, 2008, National Bank of Canada (TSX: NA) announced the sale of its majority interest in Asset Management Finance Corp. to Credit Suisse Group. Credit Suisse will pay US$384 million in newly issued shares for more than 80% of Asset Management Finance. National Bank plans to retain a 10.5% stake in the company.
National Bank of Canada is headquartered in Montreal and is one of Canada's largest financial institutions.
Asset Management Finance Corp. is based in New York and has assets under management of over US$40 billion.
Credit Suisse Group, headquartered in Zurich, is an international financial services company.
Further information is found on National Bank of Canada's website.