PARIS, Feb 10 (Reuters) - French asset manager Amundi said on Friday it was aiming to raise financing for the acquisition of rival Pioneer Investments from UniCredit by April, and reported a 10 percent rise in assets under management to 1.1 trillion euros ($1.17 trillion) in 2016.
Amundi is set to buy Pioneer Investments for 3.6 billion euros, in a deal that will extend the French company’s reach in Europe and bring in much needed capital for the Italian bank.
Amundi will pay for Pioneer via a share issue worth 1.4 billion euros and by selling 0.6 billion euros in debt.
* Amundi reported a 16.5 percent rise in fourth-quarter net income to 153 million euros, and a 7.7 percent rise in 2016 net earnings to 568 million euros.
* “The market environment is normal. This capital increase is expected to occur at the end of March and during April”, Amundi CEO Yves Perrier told journalists
* Perrier said Amundi’s parent, Credit Agricole Group, had indicated that after the capital increase, its stake would be between 66 and 75 percent. ($1 = 0.9388 euros) (Reporting by Matthias Blamont; Editing by Amrutha Gayathri)