The private equity owners of Millennium Trust Company are exploring options for the U.S. retirement account custodian, including a sale that could value it at as much as $8 billion, including debt, people familiar with the matter said on Wednesday.
Potential buyers could include private equity firms and financial services companies which operate custodian and asset management businesses, the sources said.
Millennium Trust generates north of $500 million in 12-month earnings before interest, taxes, depreciation and amortization , according to the sources.
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