In a short time, the new CEO of Unicredit, Jean-Pierre Mustier, has accustomed the market to speaking little but deciding a lot. After and beyond the Pekao and Fineco dossiers, he wants to tighten up on the sale of Pioneer, the asset management giant that he first freed from the bonds of an unlikely and inconvenient marriage with the Spanish club Santander and then put it on the market with the intention of close the deal quickly.
In the race to take over Pioneer from Unicredit there are five suitors, two Italian and three international, namely: Banca Generali, Poste Italiane, Allianz, Amundi and Macquarie, who have already submitted expressions of interest. For now, private equity funds are excluded from the tender, although some would have declared themselves available.
Mustier has two objectives that he wants to achieve with the sale of Pioneer: to close the collection of bids by 19 September and collect no less than 3 billion, which would allow Unicredit to reduce the size of the capital increase that will be presented in November together to the new strategic plan.
