BlackRock seeking 30% stake in Intesa’s asset management unit?

Source: seebiz.eu Sunday, 24.06.2018. 13:47
Comments
Podeli
Illustration (Photo: Edhar/shutterstock.com)Illustration
BlackRock aims to buy a 30% stake in Intesa SanPaolo’s asset management unit Eurizon, sources familiar with the matter said, as Reuters reports.

The source said BlackRock sees the deal as a strategic stake acquisition rather than a passive investment. BlackRock and Intesa declined to comment.

Intesa has been working with UBS to review strategic options for Eurizon for several months, the sources said. The Italian lender wants to retain control of the unit, which has 315 billion euros in assets under management and operates in Italy as well as Eastern Europe and Asia.


The head of Intesa, Carlo Messina announced several months ago that the company aimed to strike an asset management partnership and that it made sense to act quickly and reach an accord this year.

Intesa is targeting 10 billion euros in fees in 2021, accounting for 48% of its total operating income, up from 45% in 2017.

Comments
Your comment
Full information is available only to commercial users-subscribers and it is necessary to log in.

Forgot your password? Click here HERE

For free test use, click HERE

Follow the news, tenders, grants, legal regulations and reports on our portal.
Registracija na eKapiji vam omogućava pristup potpunim informacijama i dnevnom biltenu
Naš dnevni ekonomski bilten će stizati na vašu mejl adresu krajem svakog radnog dana. Bilteni su personalizovani prema interesovanjima svakog korisnika zasebno, uz konsultacije sa našim ekspertima.