December 16, 2016 / 2:50 PM / 7 months ago

BRIEF-Virtus investment partners announces agreement to acquire Ridgeworth Investments

2 Min Read

Dec 16 (Reuters) - Virtus Investment Partners Inc

* Virtus investment partners announces agreement to acquire Ridgeworth Investments

* Virtus Investment Partners Inc says transaction is expected to be accretive to earnings per share

* Virtus Investment Partners Inc says will also acquire certain investments at their fair value as of closing, for total consideration of about $513 million

* Virtus Investment Partners Inc says Morgan Stanley Senior Funding Inc and Barclays Capital have provided committed debt financing for up to $475 million

* Virtus Investment Partners Inc says Barclays Capital and Morgan Stanley & Co LLC acted as financial advisors to Virtus

* Transaction values Ridgeworth at $472 million

* Virtus Investment Partners Inc says transaction, which has been approved by boards of directors of both companies, is expected to close in mid-2017

* Virtus Investment Partners Inc says deal expected to be financed using existing balance sheet resources and combination of debt, equity, equity-linked securities

* Virtus Investment Partners Inc says board of trustees of Ridgeworth mutual funds has approved reorganization of Ridgeworth mutual funds into Virtus mutual funds

* Virtus Investment Partners Inc says RBC Capital Markets LLC acted as financial advisor and Davis Polk & Wardwell LLP was legal advisor to Ridgeworth Source text for Eikon: Further company coverage:

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