BNP Paribas SA (BNPQY)
- Zacks
BNP Paribas (BNPQY) Intends to Buy AXA Investments Managers
BNP Paribas (BNPQY) enters into discussions to acquire AXA Investments Managers. Also, both entities set up a long-term partnership to manage a significant part of AXA's assets.
- Reuters
Analysis-BNP Paribas swoop on AXA fund business fuels hopes for more deals
PARIS/LONDON (Reuters) -BNP Paribas' talks to buy the investment business of insurer AXA will trigger more deals, bankers say, as European money managers seek to fend off U.S. rivals and as customers demand cheap technology-driven investing. The French bank revealed on Thursday it was in exclusive negotiations to buy AXA Investment Managers for more than 5 billion euros ($5.5 billion), creating one of Europe's biggest fund groups with around 1.5 trillion euros of assets. The deal came after a weeks-long bidding battle between BNP and rivals, including the region's biggest asset manager Amundi and U.S. players, said three people with direct knowledge of the deal.
- Reuters
BNP Paribas in talks to buy AXA Investment Managers for 5.1 billion euros
PARIS (Reuters) -BNP Paribas is in exclusive talks with French insurer AXA to buy 100% of its AXA Investment Managers arm at an agreed price of 5.1 billion euros ($5.50 billion), the euro zone's biggest bank said on Thursday. For BNP, such an acquisition would significantly boost its asset management arm as the industry is in a race for size to achieve economies of scale and lower costs. This represents a major strategic move for AXA, Europe's second-biggest insurer, as it aims to focus on its core businesses: life insurance, savings, property and casualty policies as well as health insurance.
