BNP Paribas SA has announced plans to acquire AXA Investment Managers, a subsidiary of French insurer AXA SA, for €5.1 billion ($5.5 billion). This strategic acquisition aims to establish a combined platform with €1.5 trillion in assets under management, solidifying BNP Paribas’s position in the European asset management market.
BNP Paribas to acquire AXA Investment Managers : Exclusive Negotiations Underway
The Paris-based multinational revealed late on Thursday that it has entered into exclusive negotiations with AXA SA to acquire AXA Investment Managers. This subsidiary currently oversees nearly €850 billion in assets and maintains a long-term partnership to manage AXA’s assets, a relationship that will continue post-acquisition.
Legal Advisors on the Deal
Sullivan & Cromwell LLP is advising AXA on the deal, with a team led by partners William D. Torchiana, Olivier de Vilmorin, Nicolas de Boynes, Ken Li, and Nicolas Karmin. Counsel information for BNP Paribas was not immediately available.
Additional Transactions and Strategic Goals
As part of the transaction, AXA will sell its fund services provider, Select, to AXA Investment Managers for €300 million before the BNP Paribas acquisition closes. This move aligns with AXA’s strategy to simplify its business model and concentrate on core insurance activities.
