The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:One Pioneer Bidder Reveals Itself ... With a Catch Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 20, 2016

One Pioneer Bidder Reveals Itself ... With a Catch

News summary by MFWire's editors

The cat is officially out of the bag for at least one of the companies bidding on Pioneer Investments [profile]. Yet that same bidder is crying foul on the rumored pricing. And a second bidder is reportedly working on raising $2.2 billion to finance its bid. [See MFWire's living timeline of the Pioneer auction for more details and history.]

Perrier Yves
Chief Executive Officer
Earlier this week Amundi, a Paris-based multinational asset manager, officially confirmed "its interest in Pioneer", the multinational asset management arm of giant Italian bank UniCredit. Reports outed Amundi as a Pioneer bidder a month ago, and earlier this month Il Messaggero reported that Amundi was bidding 4 billion euros (now about $4.39 billion). Yet in the statement this week, the Amundi folks tried to shoot down that pricing rumor, by writing that "Amundi denies however the Pioneer valuation levels attributed to it."

Fund Strategy, Investment Week, and Reuters all reported on Amundi's statement.

Also this week, Reuters reports that, per an unnamed source, rumored Pioneer bidder Poste Italiane (the Italian post office) is talking with banks to raise up to 2 billion euros ($2.2 billion) to support its bid for Pioneer. The wire service adds that Anima (an asset manager) and Cassa Depositi e Prestiti (CDP, a state lender) joined Poste Italiane's bid last month.

As previously reported, the latest word is the UniCredit CEO Jean-Pierre Mustier won't be making his Pioneer decision until after the Italian constitutional reform referendum vote on December 4. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use