November 13, 2007 / 1:57 PM / 11 years ago

Bank of New York Mellon to buy Brazilian asset management firm

Nov 13 (Reuters) - Bank of New York Mellon Corp (BK.N) said it agreed to acquire Brazil’s asset management firm ARX Capital Management to expand its operations in the Brazilian market.

The deal, which is expected to close in the first quarter of 2008, will add to cash earnings per share in first year, Bank of New York Mellon said in a statement.

It added that ARX Capital has more than $2.6 billion in assets under management. Terms of the deal were not disclosed. (Reporting by Dilipp S. Nag in Bangalore; Editing by Himani Sarkar)

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