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Rating:Pioneer Watchers, Tune In On December 13 Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 30, 2016

Pioneer Watchers, Tune In On December 13

News summary by MFWire's editors

Watchers of Pioneer Investments [profile], pay close attention come December 13, as UniCredit may have big news to share by then.

Jean-Pierre Mustier
UniCredit
Chief Executive Officer
The multinational Italian banking giant confirms that on December 13, at its "Capital Markets Day" in London, UniCredit CEO Jean-Pierre Mustier and his team will present "the outcome of the strategic review announced on 11 July." And that strategic review includes a possible sale of $245-billion-AUM Pioneer, which reportedly could be priced at more than $3.35 billion. [See MFWire's living timeline of the Pioneer auction for more details and history.]

Italian wire service ANSA picked up on UniCredit's Capital Market Day revelation plans.

Per previous reports, initial, non-binding bids for Pioneer were due last week, and so far reports have outed at least nine bidders, including at least five multinationals that (like Pioneer) have U.S. asset management arms. The FT previously reported that word at Pioneer is that the deal will be finalized by the end of 2016. 

Edited by: Neil Anderson, Managing Editor


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