MutualFundWire.com: Pioneer Watchers, Tune In On December 13

MutualFundWire.com

The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication

Friday, September 30, 2016

Pioneer Watchers, Tune In On December 13

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.

Printed from: MFWire.com/story.asp?s=54902

Copyright 2016, InvestmentWires, Inc.
All Rights Reserved