French asset manager Amundi has confirmed its interest in acquiring Pioneer Investment from Italian banking group UniCredit.
The clarification is in response to rumours in the Italian newspaper Il Messaggero regarding the submission of a non binding offer for the acquisition of Pioneer, which is owned by UniCredit.
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The asset manager, however, denied the €4bn bid offer for Pioneer as speculated in media reports.
Amundi also clarified in its statement that its interest in Pioneer is consistent with the growth strategy that was presented at the time of its IPO in November 2015.
“Amundi re-iterates that its acquisition policy adheres to strict financial criteria, in particular, a return on investment greater than 10% over a three-year horizon,” the asset manager said.
In November 2015, UniCredit and Spanish banking group Santander agreed to combine their asset management units, Pioneer Global Asset Management and Santander Asset Management. However, the deal was called off in July 2016.
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