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Amundi completes EUR1.4bn rights offering

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Amundi has completed a capital increase through the distribution of preferential subscription rights to its existing shareholders launched on 14 March 2017.

The final proceeds from the offering amount to EUR1.4 billion, corresponding to the issuance of 33,585,093 new shares.
 
The rights offering will enable Amundi to finance a portion of the acquisition price for the acquisition of Pioneer Investments, the asset management branch of the UniCredit group, which amounts to EUR3,545 million before price adjustments.
 
The remainder of the acquisition price will be financed through a combination of approximately EUR1.5 billion of Amundi’s existing resources (making use of its excess capital), and approximately EUR600 million aggregate principal amount of senior and subordinated debt of Amundi.
 
The completion of the acquisition is expected to take place by the end of the second quarter of 2017 in accordance with the projected acquisition timeline.
 
Yves Perrier (pictured), chief executive officer of Amundi, says: “The success of this capital increase confirms our shareholders’ confidence in our growth strategy. The integration of Pioneer Investments will reinforce Amundi’s position as a European leader in the field of asset management and its growth dynamic.” 

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