Anima to Acquire Aletti Gestielle from Banco BPM

August 11, 2017

On August 4, 2017, Banco BPM announced an agreement to sell its asset management business, Aletti Gestielle SGR, to ANIMA Holding.

Under the terms of the transaction, Banco BPM will sell its 100% ownership of Aletti Gestielle SGR (“Aletti SGR”) in exchange for consideration of €700 million, to be increased post-closing for excess net shareholders’ equity and net profit for the period. The agreement also allows for a 20-year strategic partnership between ANIMA Holding (“ANIMA”) and Banco BPM through commercial distribution agreements. The transaction was approved by both boards of directors and is subject to customary closing conditions and regulatory approvals.

Banco BPM is Italy’s third largest bank, serving 4 million customers through 2,500 branches and 25,000 employees. Banco BPM holds a 14.27% interest in ANIMA’s share capital.

ANIMA is an Italian independent asset manager, offering a wide range of products and services to institutional and private funds and clients. As of June 30, 2017, ANIMA had over €75 billion in assets under management.

Aletti SGR is an Italian asset management company with 30 years of experience, specializing in a variety of mutual funds with different investment strategies. As of June 30, 2017 Aletti SGR had over €18 billion in assets under management.

To read the press release: please click here.


Categories

Investment Manager M&A, Investment Manager Strategic Investments, Mutual Fund M&A, Mutual Fund Strategic Investments, Transactions