On April 23, 2015, UniCredit announced that UniCredit, Santander Asset Management and affiliates of Warburg Pincus and General Atlantic signed a preliminary agreement to combine Pioneer Investments and Santander Asset Management.
The combined firm will have approximately €400 billion in assets under management and a presence in over 30 countries. The preliminary agreement contemplates the establishment of a holding company, with the name Pioneer Investments, which will control Pioneer’s operations in the United States along with the combination of Pioneer and Santander’s operations outside the United States.
Following the signing of the preliminary agreement, the parties will work towards signing a definitive agreement subject to customary regulatory and corporate approvals.
To read the press release: please click here.