TheNewsRoom | Ameriprise Buys Part Of Bank of America's Columbia Unit

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Ameriprise Buys Part Of Bank of America's Columbia Unit

September 30, 2009

Ameriprise Financial (AMP) has agreed to buy the long-term asset management portion of Bank of Americas (BAC) Columbia unit. Ameriprise will pay between $900 million and $1.2 billion for the business, depending on assets flows and investor consents prior to the deal closing.