• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Allianz weighs options for AllianzGI unit, sources say

by October 24, 2024
written by October 24, 2024

By Amy-Jo Crowley, Alexander Hübner, Andres Gonzalez and Anousha Sakoui

LONDON (Reuters) – Allianz (ETR:ALVG) 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.

Allianz could consider giving up control in such a move, that person and a second one said. The people were speaking on condition of anonymity because the matter was private.

It is one of Europe’s biggest insurers and also owns asset manager Pimco. The Pimco business is not part of the discussions, according to the sources. 

A spokesperson for Allianz declined to comment.

The considerations come on the heels of BNP Paribas (OTC:BNPQY)’ decision to buy AXA Investment Managers for more than 5 billion euros, a transaction that bankers expected would spur more dealmaking. Credit Agricole-owned Amundi was also vying for the unit, Reuters reported.

Amundi and Germany’s DWS would be logical candidates for any deal, one of the people and a fifth one said. Amundi and DWS declined to comment. AllianzGI sold its U.S. division to investment manager Voya after the unit pleaded guilty to fraud and paid a $6 billion settlement with U.S. authorities in 2022. 

In August, the overall Allianz group posted better than expected second quarter net profit and said it was on track to meet its full year target. 

Over the past decade, Allianz has outperformed some its main competitors and Germany’s main stock index. In the first half of 2024, Allianz reported net inflows of 48 billion euros of client funds into its asset management business, of which only a small fraction went into AllianzGI, at around 3 billion euros.

($1 = 0.9263 euros)

(This story has been refiled to clarify the source in paragraph 7)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
ECB hawks push back against bets on more and bigger cuts
next post
IMF says size of Egypt’s loan programme is still appropriate

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Explainer-Which German coalition plans will still be implemented?
    • Dow Jones, Nasdaq, S&P 500 weekly preview: Markets await CPI, retail sales data

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy