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DST Systems Inc and Janus in stake sale talks

30 April 2003  |  1057 views  |  0 DST Systems Inc and Janus in stake sale talks

DST Systems Inc is in talks with Janus Capital about acquiring Janus' 33% stake in the US mutual fund technology vendor.

In a joint statment, the two companies say they are discussing potential transactions, including a tax-free reorganisation, that could result in DST acquiring all or a portion of the 39.7 million shares (approximately 33%) of DST common stock currently owned by Janus Capital Group.

"The discussions are preliminary and no agreement has been reached," say the companies.

News of the talks emerged as Denver-based Janus reported a 60% slide in quarterly profits as assets tumbled amid the market downturn.

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