Jun 27, 2005. /Lesprom Network/. Sequana Capital (formerly Worms & Cie), Legg Mason and the managers of Permal Group have signed a binding agreement regarding the sale by Sequana Capital of its participation in Permal Group to Legg Mason. According to Tiberto Ruy Brandolini d’Adda, Sequana Capital’s chief executive officer: “Sequana Capital’s aim is to create value for its shareholders through investing, the monitoring of its investments portfolio over the long run, and divesting at the appropriate moment. The sale of Permal Group is one perfect example of the above, since this company has been in our portfolio for more than thirty years. Sequana Capital is a diversified group which is present in the industry sector through its 100% ownership of ArjoWiggins, and in the services sector, through 100% of Antalis, 77% of Permal Group and 23.8% of SGS. Permal Group is one of the largest funds-of-hedge-funds managers in the world. As of 31 December 2004, Permal group administered $19.1 billion of assets under management with a revenue of $348 million and a net profit of $60 million. As of 31 december 2004, Permal group represented 20% of Sequana Capital’s net asset value. Legg Mason is one of the first ranking asset-managers wordlwide and is listed on the New York Stock Exchange. Based in Baltimore, Legg Mason administers approximately $375 billion and its market capitalization amounts to $9 billion.