By Eric Sylvers

 

Milan--UniCredit SpA (UNCFF) has agreed to sell its asset-management unit Pioneer Investments to France's Amundi SA for EUR3.88 billion ($4.10 billion).

Amundi will pay UniCredit EUR3.55 billion in cash, plus a special dividend of EUR315 million to be paid before the transaction closes.

Pioneer's sale is part of a plan UniCredit will unveil Tuesday, aimed at bolstering its capital base.

 

Write to Eric Sylvers at eric.sylvers@wsj.com

 

(END) Dow Jones Newswires

December 12, 2016 02:26 ET (07:26 GMT)

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