BNP Paribas enters talks to acquire AXA Investment Managers

BNP Paribas (BNPQY) announces that it has entered into exclusive negotiations with AXA (AXAHY) to acquire 100% of AXA Investment Managers, representing close to EUR 850B assets under management, together with an agreement for a long-term partnership to manage a large part of AXA’s assets. “With the combined contribution of BNP Paribas’ asset management platforms, the newly formed business, which total assets under management would amount to EUR 1,500B, would become a leading European player in the sector,” BNP said in a statement. With a CET1 impact of circa 25 basis points for BNP Paribas, the expected return on invested capital of the transaction would be above 18% as soon as the third year, following the end of the integration process.