PARIS Dec 12 French fund management company
Amundi is to buy asset manager Pioneer from Italian
bank UniCredit for 3.55 billion euros ($3.75 billion),
and will finance the deal with a debt and equity issue.
The deal is one of various disposals being pursued by
newly-appointed UniCredit Chief Executive Jean-Pierre Mustier to
boost capital levels at the Italian lender, slim it down and
make it easier to manage.
Amundi, which is majority owned by French bank Credit
Agricole, said the Pioneer deal would result in
cost-savings and would boost Amundi's earnings.
($1 = 0.9467 euros)
(Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas)