Amundi Acquires KBI Group
May 25, 2016
Cleary Gottlieb is representing Amundi in the acquisition from Oddo et Cie of an 87.5 percent stake in Kleinwort Benson Investors Dublin Limited (KBI) and its subsidiaries.
Amundi, acting through its wholly owned subsidiary, Amundi Asset Management, will acquire its stake from BHF Group UK Limited, which is part of the BHF Kleinwort Benson group that was recently acquired by the Oddo group, while the management team of KBI will also acquire a 12.5 percent stake in KBI. The transaction is subject to regulatory and antitrust approvals and is expected to close in Q3 2016.
KBI is an institutional and retail investment management firm, headquartered in Dublin, Ireland, with offices in Boston and New York and employing 62 people. It has €7.6 billion of assets under management as of March 31, 2016.
Amundi is a leading European asset manager and among the top 10 asset managers worldwide, with €987 billion in assets under management as of March 31, 2016.