March 6 U.S. buyout fund Hellman & Friedman is
nearing a deal to buy Madrid-based mutual fund platform Allfunds
Bank SA, after beating bids from rival private equity bidders,
Bloomberg reported, citing people familiar with the matter.
The deal could be announced as soon as this week and valued
Allfunds Bank at about 1.8 billion euros ($1.90 billion),
Bloomberg reported on Monday. (bloom.bg/2mfntj2)
H&F beat a last-minute counterbid from PE firm Permira,
Chinese investment firm Legend Holdings Corp and
three groups of private equity funds were putting the finishing
touches to rival bids for Allfunds Bank, Reuters reported in
Established in 2000 to provide access to so-called open
architecture investment funds market, Allfunds has more than 200
billion euros of assets under management.
Santander Asset Management and Intesa Sanpaolo Spa
own 50 percent each of Allfunds Bank.
($1 = 0.9454 euros)
(Reporting by Arunima Banerjee in Bengaluru; Editing by Shounak