Further to the preliminary agreement announced on 23rd April 2015, UniCredit, Santander, and affiliates of Warburg Pincus and General Atlantic have signed a binding master agreement to combine Pioneer Investments and Santander Asset Management to create a leading global asset manager.
As the next step, the parties will be seeking the necessary regulatory and other approvals in many of the markets where the two firms have a presence. The full closing of the transaction is expected to happen in 2016.
Milan, November 11, 2015