Tokyo company buys 41 percent stake in American Century Investments

The American Century Investments towers near the Country Club Plaza in Kansas City, Mo. | Photo courtesy of Creative Commons
The American Century Investments towers near the Country Club Plaza in Kansas City, Mo. | Photo courtesy of Creative Commons

Tokyo-based Nomura agreed Monday to pay approximately $1 billion for a 41 percent stake in Kansas City-based American Century Investments.

The stake currently is held by Toronto-based Canadian Imperial Bank of Commerce, which had purchased the ownership from U.S.-based JPMorgan Chase & Co. in 2011 for $848 million.

American Century, a mutual fund and investment management company, is controlled by the Stowers Institute for Medical Research.

The companies expect to complete the sale in the first half of next year. The sale requires regulatory approval.

Read more from the Kansas City Star


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