Cleary Gottlieb represented Amundi, which announced on July 3, 2017, that it had completed the acquisition of Pioneer Investments from UniCredit.
This acquisition was made for an all-cash consideration of €3.5 billion. As part of the transaction, Amundi formed a long-term strategic partnership with UniCredit for the distribution of asset management products in UniCredit banking networks.
Pioneer Investments is a world-class asset manager that has a highly complementary business and geographic profile with Amundi. With €222 billion of assets under management, a majority being retail assets, Pioneer Investments has a unique franchise with a global and proven product expertise.
This transforming acquisition strengthens significantly Amundi’s industrial project and reinforces its position as the European leader in asset management. It creates the eighth-largest asset manager globally, with €1,2761 billion of assets under management.