Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pioneer's Fate Is Up In the Air, Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 27, 2016

Pioneer's Fate Is Up In the Air, Again

News summary by MFWire's editors

The fate of Pioneer Investments [profile] is up in the air, again, thanks to big changes at its parent company.

Federico Ghizzoni
UniCredit
Chief Executive Officer
Reuters reports that, per four unnamed sources, Italian multinational bank UniCredit is putting the complicated Pioneer deal with Santander on hold thanks to an impending search for a new UniCredit CEO. Current UniCredit CEO Federico Ghizzoni will leave once they find a successor. [See MFWire's living timeline of the Pioneer auction for more details and history.]

CityWire Selector also covered the Pioneer deal news.

A year ago UniCredit and Spanish multinational bank Banco Santander unveiled a deal to combine their global asset management businesses, with backing from private equity firms Warburg Pincus and General Atlantic, and a few months later they signed a binding agreement. That deal would put the U.S. arm of Pioneer under a new Pioneer Investments holding company, with UniCredit owning 50 percent and the private equity firms splitting the rest. Meanwhile, for the non-U.S. UniCredit and Santander asset management businesses, the new holding company would own two-thirds and Santander would own a third.

Lisa Jones
Pioneer Investments
Head of the U.S., President, Chief Executive Officer
Now, one source tells Reuters, the Pioneer deal "is currently frozen" and whoever takes over at UniCredit "will review the deal." That source told the wire service that a "queue" of other buyers, besides Santander and Warburg and GA, had lined up for Pioneer. 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use