Poste Italiane aim to purchase Pioneer, an asset management company, which has 220 billion assets under management, put up for sale by Unicredit. The company headed by Francesco Caio he is already one of the interlocutors to whom Unicredit has delivered the necessary documentation to possibly present a non-binding expression of interest.
One of the objectives of Poste Italiane, which has already bought a minority stake in Anima sgr, is precisely to expand into the sector of managed savings. The purchase of Pioneer, in this sense, could represent an opportunity to become the major pole of the sector. This was reported by Il Sole 24 Ore.
Unicredit aims to sell Pioneer for about 3 billion. An assessment that could lead Poste also to proceed with the purchase, instead of the entirety, only of a large stake in the company. One of the consequences of this possible transaction could also be the postponement of the placement of the second tranche of 30% of Poste on the market.
The placement, already today, could be postponed to 2017, also by virtue of the volatility of the markets, in which the Poste Italiane share still does not shine, remaining below the IPO price.
