MANULIFE TAKES BIGGER BITE OF ALTAMIRA
By Adnews Staff
Manufacturers Life Insurance is increasing its stake in Altamira Management Ltd. of Toronto. The company is buying another 28% of Altamira from the management group of the mutual fund company, bringing its ownership to 58.5% from 30.5%. Manulife will make a formal offer to all shareholders within 20 days. The management group includes Altamira president Philip Armstrong and star fund managers Frank Mersch and Will Sutherland. Advertising for Altamira is done by Publicis*BCP's Toronto office.
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