Millennium BCP Completes Sale of Asset Management Unit

May 22, 2015

On May 18, 2015, Millennium BCP announced that it had completed the sale of Millennium bcp Gestão de Activos – Sociedade Gestora de Fundos de Investimento, S.A. (“MGA”) to Corretaje e Informacón Monetária y de Divisas, S.A. (“CIMD Group”).

In accordance with the terms previously announced, the CIMD Group has acquired the whole share capital of MGA.  The current offer of MGA mutual funds will continue to be available in all distribution channels of Millenium bcp.

As of March 31, 2015, MGA had €1.590 million in assets under management, corresponding to a domestic market share of 13.2%, ranking as the 4th largest among Portuguese asset management companies.

To read the press release: please click here.


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