BNP Paribas (BNPQY) announces that it has entered into exclusive negotiations with AXA (AXAHY) to acquire 100% of AXA Investment Managers, representing close to EUR 850B assets under management, together with an agreement for a long-term partnership to manage a large part of AXA’s assets. “With the combined contribution of BNP Paribas’ asset management platforms, the newly formed business, which total assets under management would amount to EUR 1,500B, would become a leading European player in the sector,” BNP said in a statement. With a CET1 impact of circa 25 basis points for BNP Paribas, the expected return on invested capital of the transaction would be above 18% as soon as the third year, following the end of the integration process.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BNPQY:
- BNP Paribas price target raised to EUR 86 from EUR 82 at Morgan Stanley
- BNP Paribas price target raised to EUR 88 from EUR 87 at Barclays
- BNP Paribas price target raised to EUR 79 from EUR 77 at RBC Capital
- Is BNPQY a Buy, Before Earnings?
- BNP Paribas price target raised to EUR 87 from EUR 80 at Barclays