BNP Paribas Signs €5.1 Billion Deal to Buy Axa's Asset Manager [Yahoo! Finance]
BNP PARIBAS SPONS ADR (BNPQY)
NASDAQ:AMEX Investor Relations:
invest.bnpparibas.com/en
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Source: Yahoo! Finance
of Axa SA's asset management unit, in the biggest acquisition under Chief Executive Officer Jean-Laurent Bonnafe. Most Read from Bloomberg The Architects Who Built Miami Reviving a Little-Known Modernist Landmark in Buffalo New York City's Historic Preservation Movement Is Having a Midlife Crisis New York's Congestion Pricing Plan Still Faces Legal Hurdles NYPD Car Chases Are Becoming More Frequent — and More Dangerous Both sides had agreed on the price and outlines of the deal when they announced in August that they had entered into exclusive negotiations. The transaction is expected to close by the middle of next year, and have an impact of 25 basis points on BNP Paribas' CET1 ratio, the French lender said in a statement Saturday, confirming its previous guidance. The deal will create one of Europe's largest money managers, with roughly €1.5 trillion in assets overseen. A good chunk will be in popular and usually more lucrative markets such as private credit, infrast
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