BNP set to acquire AXA IM
Reports out of Europe are pointing to one of the largest-ever investment fund mergers with BNP Paribas in exclusive talks with French insurer, AXA to buy 100% of AXA Investment Managers.
The report said that the transaction is estimated to be worth about US$5.5 billion.
The report said that the acquisition will significantly boost BNP Paribas’ asset management arm.
It said the combined entity would have total assets under management of about 1.5 trillion euros.
The report said the transaction was expected to close by the middle of next year.
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