- 1 min
Pioneer Investments acquisition: Crédit Agricole subscriber in Amundi's rights offering
When it announced its planned acquisition of Pioneer Investments* in December 2016, Amundi also outlined a plan to finance part of this acquisition, priced at just over €3.5 billion, through a rights offering. Amundi recently presented the details of its capital increase, with shareholders' preferential subscription rights maintained, for a gross amount of about €1.4 billion. The negotiation period for preferential subscription rights is 15 – 29 March 2017. The subscription period, exclusively for the French market, is 17 – 31 March 2017. About €1.5 billion of the remaining acquisition price will be financed by Amundi's available equity, and the remainder - about €0.6 billion - through senior and subordinated debt. The Crédit Agricole Group has subscribed to the rights offering, exercising the number of preferential subscription rights needed to reach an approximately 70% stake in Amundi's capital following this operation.
* asset management branch of the UniCredit Group.
Discover our channels
Innovation and customer relations
The theme channel covering all you need to know about the digital bank and its innovations aimed at enhancing the customer experience, focusing on new digital tools and services as well as changes in practices and the business lines.