SWFI First Read, December 13, 2016

Amundi Acquires Pioneer Investments

Amundi is acquiring Pioneer Investments from UniCredit for €3.55 billion. UniCredit sold the asset manager in a bid to shore up cash, as the Italian banking giant seeks to have a fund raise. Amundi’s acquisition of Pioneer Investments will add more assets under management, about €222 billion, to its growing platform, solidifying the firm’s grasp in Europe. Amundi will pay for the deal through a €1.4 billion share issue in the first half of 2017 and be selling €600 million in debt. The transaction includes a product distribution agreement for up to 10 years entailing Pioneer products to be sold through UniCredit branches.

RPMI Refinances Solar Portfolio Through PiP

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