Japanese Firm Buying Canadian Bank’s Stake in American Century

Kansas City’s American Century Investments announced this morning that a 41 percent share in the company, now held by Canadian Imperial Bank of Commerce, is being acquired by Japan’s Nomura Holdings, a financial-services company, for roughly $1 billion.

Assuming the deal passes muster with regulators, the transaction is expected to be completed by mid-2016. At that point, the Stowers Institute for Medical Research will still hold its position as majority owner of the Kansas City wealth-management firm. The biomedical research institute near the Country Club Plaza is largely funded by American Century’s profits.

CIBC issued a news release saying its decision came after determining that it would not be able to acquire an additional 9.01 percent stake in American Century, sufficient to secure majority ownership. It will reap roughly $152 million on the $848 million ownership investment it made in 2011.