All finished. Allianz and Amundi reportedly interrupted negotiations on a possible combination of the businesses active in asset management that would have led to the creation of a savings management giant with approximately 2.800 trillion euros under management (3.000 trillion dollars).
It reveals it Reuters, that Allianz would examine options for valuing the Allianz Global Investors division, which included a possible merger or a partial sale of the division. negotiations, however, ended abruptly and it is not clear whether they will resume in the future. Pimco, the asset manager owned by Allianz, did not take part in the discussions.
The cause of the breakup, after the start of exclusive negotiations only two days ago, would have been the structure of the relationship and the division of control of an enlarged entity. Some sources quoted by the press agency said that the talks could resume at a later date.
Tough deals in asset management
The halt in negotiations confirms how difficult large-scale M&A is in the healthcare sector. wealth management and comes at a very favorable time for the consolidation of the sector. The recent acquisition of Axa Investment Managers by BNP Paribas for 5 billion euros, for which Amundi was also in the running, had stirred the sector and stimulated bets on further deals. But an Allianz spokesman said last month that the insurer is satisfied with its current structure and is not considering selling its wealth management division.
