According to its website, AllianzGI oversees assets worth 555 billion euros, and according to one source, its value, reduced by liabilities, could amount to about 4 billion euros. The ownership insurance company may consider giving up control in a merger and acquisition deal, the sources said.
Allianz is one of the largest insurance companies in Europe and also owns asset management company Pimco, but this will not be part of these negotiations.
Thinking about AllianzGI intensified after French bank BNP Paribas reportedly bought AXA Investment Managers for more than €5 billion. Reuters reported that Amundi, which owns a majority stake in Credit Agricole, is also vying for the unit.
One source said that Amundi and Germany's DWS would be logical candidates for a potential deal with Allianz.
In August, the Allianz group as a whole reported better-than-expected second-quarter net profits and said it was on track to meet its full-year target. In the first half of 2024, the insurer reported a net inflow of €48 billion of client funds into its asset management business, of which AllianzGI provided only a small portion (about €3 billion).
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