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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, November 14, 2016 UniCredit Shops Pioneer: A Timeline This page will serve as a living timeline, chronicling UniCredit's ongoing hunt to find the perfect bidder for Pioneer [profile]. July 5, 2017 Amundi Smith Breeden combines with Pioneer to form Amundi Pioneer Asset Management. The new firm will administer Amundi's United States investment hub and distribution platform and the combined assets add up to approximately $1.3 trillion in assets under management. June 22, 2017 It is publicly confirmed that Lisa Jones, president and CEO of Pioneer, will become head of USA/Canada and Latin America for Amundi. Also, Ken Taubes, executive vice president and CIO of Pioneer, will become head of US expertise. Giodarno Lombardo, global CEO and CIO of Pioneer, will not join Amundi once the deal closes. April 28, 2017 Amundi's Q1 earnings report reveals 3.5 million euros, around $3.82 million, net of tax, as a result of expenses related to the forthcoming deal with Pioneer. The deal is expected to close by the end of Q2. February 21, 2017 Yves Perrier, CEO of Amundi, will cut nine-percent of staff once the Amundi-Pioneer deal closes, according to an article from the Financial Times. He predicts two-thirds of the cuts will simply come from staff turnover. December 19, 2016 Dominique Carrel-Billiard joins Amundi as deputy director and executive committee member. He will oversee the firm's $3.76 billion acquisition of Pioneer. He was formerly CEO of Financier de l'Echiquier. December 13, 2016 Capital Market's Day, where UniCredit will announce the outcome of the strategic review presented on July 11. December 12, 2016 Unicredit has finally announced a deal for Pioneer Investments! Amundi will buy Pioneer for 3.545 billion euros ($3.76 billion), plus a 315-million euro ($334.18 million) "extraordinary dividend" that Pioneer will pay to UniCredit before the deal closes. December 8, 2016 As Amundi works to raise funds to complete the Unicredit/Pioneer deal, Pioneer has suspended two PMs; they have yet to settle with these top bond managers. December 5, 2016 Unicredit and Amundi confirm that they are in an exclusive deal. December 4, 2016 Italy will hold a referendum on constitutional reform, addressing "key constitutional changes that aim to slim down the country’s legislature, speed up lawmaking and attack the bureaucratic morass." November 25, 2016 The bidding reportedly narrows to just three serious bidders: Ameriprise, Amundi, and the consortium led by Poste Italiane, with Amundi leading the pack and Macquarie a distant fourth. November 21, 2016 Marty Gilbert, chief of British multinational asset manager Aberdeen [profile], reveals that his firm has dropped out of the Pioneer bidding. He blames Pioneers price tag, which he pegs at 3.5 billion pounds (about $3.7 billion). November 16, 2016 Santander takes full control of its asset management business, buying out Warburg Pincus and General Atlantic. November 14, 2016 Amundi, one of the bidders for Pioneer, doubles its minority stake in another asset manager, TOBAM. November 11, 2016 UniCredit confirms that they have received bids for Pioneer. November 10, 2016 Second round bids for Pioneer are reportedly due today with UniCredit. November 9, 2016 Poste Italiane, Cassa Depositi e Prestiti and Anima announce their joint agreement for a bid on Pioneer. November 3, 2016 Ameriprise is outed as a bidder for Pioneer. October 28, 2016 Amundi reportedly leads the bidding for Pioneer. October 18, 2016 Amundi confirms that they are bidding for Pioneer. Meanwhile, Poste Italiane is attempting to raise money to support its bid for Pioneer. October 6, 2016 Amundi reportedly is offering $4.46B for Pioneer. This bidding price is higher than analyst’s original expectations. September 28, 2016 UniCredit announces that on December 13, Capital Markets Day, they will present the outcome of the strategic review begun on July 11. September 20, 2016 This is the last day of the first, nonbinding round of bidding on Pioneer. Aberdeen, Allianz, Axa, Delaware Investments and Natixis all reportedly put in bids for Pioneer. Yet, the three main contenders are Amundi, Generali, and Poste Italiane. September 19, 2016 Poste Italiane, Generali and Amundi emerge as bidders for Pioneer. September 7, 2016 UniCredit gives a September 20 deadline for initial bids on Pioneer. July 27, 2016 UniCredit announces that they terminated their November 2015 deal with Santander for Pioneer. July 12, 2016 Jean Pierre Mustier becomes the new CEO of UniCredit, replacing Federico Ghizzoni. July 11, 2016 Brexit throws a wrench in Santander and UniCredit’s asset management join venture deal. May 24, 2016 UniCredit puts a hold on their deal with Santander for Pioneer, due to UniCredit’s search for a new CEO to replace Federico Ghizzoni. November 11, 2015 UniCredit confirms that it signed a binding agreement with Santander. July 30, 2015 Scott Powell becomes CEO of Santander. April 23, 2015 Pioneer and Santander agree to a deal, making Pioneer in the US wholly-owned by a new holding company called Pioneer Investments, with UniCredit owning half of that company, and Warburg Pincus and General Atlantic owning the other half. November 26, 2014 Giordano Lombaro succeeds Sandro Pierri as deputy CEO and CIO of Pioneer in the US. October 17, 2014 Oak Ridge Investments buys out Pioneer Investments’ 49 percent stake in their company. September 23, 2014 UniCredit confirms that they are in talks with Santander to combine the two firm’s asset management arms. April 13, 2013 Pioneer CEO, Sandro Pierri, debunks rumors that a sell-off of Pioneer will occur. August 22, 2011 Pioneer ponders business ventures in Russia. June 24, 2011 Pioneer spruces up its Boston headquarters. April 21, 2011 UniCredit takes Pioneer off the auction block to focus on "organic growth." March 21, 2011 Italy's central bank urges UniCredit to sell Pioneer to an Italian buyer. January 24, 2011 Resolution bows out of Pioneer bidding war, leaving Amundi and Natixis to vie for the company. January 21, 2011 Amundi emerges as Pioneer's leading bidder. December 17, 2010 UniCredit announces its short list for bidders for Pioneer, including Natixis, Amundi and Ameriprise Financial, parent of Columbia. December 8, 2010 Resolution is reportedly interested in bidding for Pioneer. September 29, 2010 Natixis confirms its interest in Pioneer. September 16, 2010 Pioneer has four bidders: Federated Investors, Northern Trust, State Street, and Ameriprise Financial. August 23, 2010 UniCredit is reportedly selling Pioneer in pieces. August 17, 2010 Pioneer is finishing up pitch books and has 14 firms interested in bidding, including: Amundi, BNP Paribas, Natixis, Societe Generale, John Hancock, MFS, Apax Partners, BC Partners, Permira, Bain Capital, Carlyle Group, Hellman & Friedman, KKR and TA Associates. August 5, 2010 Natixis is open to the possibility of doing a deal with Pioneer. May 13, 2010 UniCredit confirms that Pioneer is on the block. Printed from: MFWire.com/story.asp?s=55152 Copyright 2016, InvestmentWires, Inc. All Rights Reserved |