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Friday, December 17, 2010

Pioneer Bidders: And Then There Were Three

by: Armie Margaret Lee

It looks like UniCredit has come up with a short list of bidders for its Pioneer Global Asset Management unit [see profile]. Bloomberg reporter Fabio Benedetti-Valentini, citing a report from French newspaper Le Figaro, wrote that Milan-based UniCredit chose Natixis, Amundi and Ameriprise Financial as possible bidders.

Offers are reportedly due by end-March. The price tag of the deal is estimated at 3 billion euros ($4 billion).

Ameriprise, the only U.S.-headquartered firm of the three, completed its acquisition of Columbia Management's long-term asset management business in May.

Amundi, which, like Natixis, is headquartered in Paris, is a joint venture between Crédit Agricole S.A. and Société Générale. 

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