Monday, December 5, 2016

UniCredit, Amundi is in pole position to Pioneer – The Sun 24 Hours

UniCredit chooses Amundi for the negotiation exclusive to Pioneer. The news, in circulation from the evening of yesterday, it was confirmed this morning, from Piazza Gae Aulenti: the group led by Jean-Pierre Mustier has entered from time controlled, which is the sixth asset manager in europe, with its 225 billion of assets under management, among the pieces for sale on the occasion of the new industrial plan that will be presented next week in London.

According to the views collected by Reuters, the French group – launched by Crédit Agricole and SocGen, where at the time there was just by Mustier – would have offered more than 3.5 billion euros, although it is not clear if this figure takes into account (or not) of the 325 million of liquidity available today Pioneer. The offer of Amundi would, therefore, exceeded the other two still in the race (after a couple of weeks ago had appeared in the scots of Aberdeen): Ameriprise, and the team of domestic Post-Cdp-Soul, with which would not have found an agreement on the distribution of Pioneer brand products.



Unicredit flies in the Bag, five offers for Pioneer

Tomorrow, in Piazza Gae Aulenti will meet the board of directors for a preliminary review of the industrial plan, thus it is likely that it is also speaking of the Pioneer. For the signing of a first agreement could serve again some day, and the announcement could come next Tuesday on the occasion of the investor day; among other items to be defined in these hours, the sale of the Polish Pekao and the spin-off of 50 billion Npl gross vehicle partnership by a fund (in a rush, we are Pimco, Cerberus and Fortress). According to the rumors of the market, the disposal will increase by € 13 billion, a good part of which will serve to elevate the covers on the suffering.

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