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Legg Mason sells Polish asset manager to employees

The management and employees of Polish asset manager Legg Mason TFI, together with Polish financial investors, purchased the company from U.S. parent Legg Mason Inc.

The financial details of the deal were not disclosed.

The asset manager and its former owner will continue their cooperation under a business partnership, and Legg Mason funds will remain in the Polish company's portfolio on current terms.

Legg Mason TFI will also distribute its former parent's global solutions on the Polish market and intends to add several new funds to its portfolio in 2017 in cooperation with Legg Mason.