Allianz, one of Europe’s biggest insurers, is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, which oversees 555 billion euros ($560 billion) of assets according to its website, could be valued at more than 4 billion euros, including debt, one of people said.
Why it matters
The considerations come on the heels of BNP Paribas’ decision to buy AXA Investment Managers for more than 5 billion euros, a transaction that bankers expected would spur more dealmaking.
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Source: Reuters News Agency
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