BNP Paribas announces that it has entered into exclusive negotiations with a view to acquiring AXA Investment Managers (AXA IM), representing around 850 billion euros in assets under management, and to establishing a long-term partnership for the management of a large proportion of its assets.

Following this acquisition, BNP Paribas Cardif could delegate the management of its insurance and savings assets of up to 160 billion euros to this platform. The new entity would thus represent 1,500 billion euros in assets under management.

The price agreed for the acquisition and the implementation of the partnership amounts to 5.1 billion euros at closing, anticipated for the summer of 2025. The expected return on investment from the transaction, from the third year onwards, would be in excess of 18% for BNP Paribas.

The proposed transaction is subject to consultation with employee representative bodies, with a view to agreement by the end of the year. Its closing will also require the approval of the relevant authorities.

Copyright (c) 2024 CercleFinance.com. All rights reserved.