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Amundi to buy Kleinwort Benson Investors from Oddo

Published 23/05/2016, 07:34
© Reuters. People walk near the Amundi company headquarters in Paris
AMUN
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PARIS (Reuters) - European asset manager Amundi (PA:AMUN) said it signed an agreement to acquire an 87.5 percent stake in Kleinwort Benson Investors from Oddo & Cie, with the target's management team buying the rest.

The disposal follows the purchase of parent company BHF Kleinwort Benson Group by Oddo.

Kleinwort Benson Investors managed 7.6 billion euros (5.9 billion pounds) of assets as of March 31. It had net revenue of 31 million euros and net income of 9 million in 2015.

© Reuters. People walk near the Amundi company headquarters in Paris

Amundi said in a statement on Monday that the deal, expected to close in the third quarter, would immediately boost its earnings per share.

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