Amundi Buys Unicredit's Fund-Managing Unit Pioneer Investments
December 12 2016 - 02:41AM
Dow Jones News
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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