BNP Paribas to buy AXA IM in €5bn deal
BNP Paribas has entered into exclusive negotiations with AXA to acquire 100% of AXA Investment Managers in a €5.1bn (£4.3bn) deal.
The deal includes an agreement for a long-term partnership to manage a large part of AXA’s assets.
Combined, the AXA IM and BNP Paribas businesses will have some €1.5tn of assets under management, making it a leading European player in the management of long-term savings assets for insurers and pension funds.
BNP Paribas has entered into exclusive negotiations with AXA to acquire 100% of AXA Investment Managers in a €5.1bn (£4.3bn) deal.
The deal includes an agreement for a long-term partnership to manage a large part of AXA’s assets.
Combined, the AXA IM and BNP Paribas businesses will have some €1.5tn of assets under management, making it a leading European player in the management of long-term savings assets for insurers and pension funds.
“This project would position BNP Paribas as a leading European player in long-term asset management. Benefiting from a critical size in public and alternative assets, BNP Paribas would serve its customer base of insurers, pension funds, banking networks and distributors more efficiently,” said Jean-Laurent Bonnafé, chief executive at BNP Paribas.
Thomas Buberl, chief executive at AXA, added: “By joining forces with BNP Paribas, AXA IM would become a global asset manager with a wider product offering and a mutual objective to further their leading position in responsible investing.”
The deal is expected to complete in mid-2025.
