BNP Paribas Cardif Acquires AXA Investment Managers

Foreks - BNP Paribas (EPA:BNPP) and AXA have announced that they signed an agreement for BNP Paribas Cardif to acquire AXA Investment Managers for €5.1 billion. The French groups stated that they were in exclusive negotiations for a deal that would create one of Europe's largest asset managers by more than doubling the assets managed by funds overseen by BNP Paribas. The agreement also includes a long-term partnership in which BNP Paribas will manage a significant portion of AXA's assets.

The banking group BNP Paribas stated that the signing of the agreement came after both groups completed information and consultation procedures with bodies representing their employees. The transaction is expected to be completed by mid-2025, subject to regulatory approvals. Renaud Dumora, Chairman of BNP Paribas Cardif's Board of Directors, said, “Before the closing process, all teams are working to integrate AXA IM's employees and clients into the BNP Paribas Cardif Group.”