Morgan Stanley to Raise Stake in Brokerage Venture to 65%

Morgan Stanley announced plans on Thursday to buy an additional 14 percent stake in Morgan Stanley Smith Barney, the brokerage business it owns with Citigroup.

After the purchase, Morgan Stanley will own 65 percent of the brokerage, a joint venture that was forged during the financial crisis. As part of the deal, Morgan Stanley had the right to buy an additional stake on June 1.

http://dealbook.nytimes.com/2012/05/31/morgan-stanley-to-increase-stake-in-brokerage-venture-to-65/