Deals & People April 21, 2009

Reuters: Lincoln to Sell Delaware Asset Management Unit

U.S. life insurer Lincoln National Corp. is selling its Delaware Investments asset management unit, according to Reuters.

Reported by

Rebecca Moore

According to sources cited by Reuters, bids for the Philadelphia-based Delaware are expected to come from private equity and strategic buyers over the next couple of weeks.

The sale of Delaware Investments, which had more than $115 billion in assets under management as of December 31, is being handled by Goldman Sachs, according to the report.