BNP Paribas enters into a deal to acquire AXAInvestment Managers

BNP Paribas Cardif, part of French banking group BNP Paribas, has entered into a share purchase agreement to acquire AXA’s asset management unit, AXA Investment Managers (AXA IM), in a deal worth €5.1 billion ($6.40 billion).

This comes after consultations with employee representatives from the AXA and BNP Paribas groups.

AXA IM has approximately €850 billion ($930 billion) of assets under management.

This transaction is expected to close by the end of the second quarter of 2025, subject to standard closing conditions, including regulatory approvals.

AXA IM’s merger with BNP Paribas is set to create a “leading” asset manager in Europe, with combined assets under management of €1.5 trillion.

The sale forms part of AXA’s efforts to streamline its operations and focus on its core insurance business.

Axa reportedly plans to use proceeds from the sale to fund growth and buy back shares Bloomberg.

Thomas Buberl, former CEO of AXA, said: “By joining forces with BNP Paribas, AXA IM will become a global asset manager with a broader product offering and a common goal to strengthen its leading position in responsible investing.

“This long-term partnership will provide AXA and its clients with continued access to a wide range of best-in-class investment solutions that will enhance our strategic living and savings ambitions.”

BNP Paribas has initiated exclusive discussions With AXA to acquire 100% of AXA IM in August 2024.

At the time, AXA said: “In particular, AXA’s Life and Savings business is well positioned for growth, driven by the group’s strong distribution capabilities and product design, and our clients will benefit from a broad range of asset classes, including continued access to a best-in-class alternative asset management platform.” In its class.”

In September, BNP Paribas has approved the acquisition Private Banking Division of HSBC Continental Europe.

“BNP Paribas enters deal to acquire AXAInvestment Managers” was originally created and published by International private bankerwhich is a trademark of GlobalData.

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