The owner of Pioneer Investments received offers to acquire the €220.7 billion ($242.4 billion) money manager and is in discussions with potential buyers.
Parent company UniCredit said in a statement on its website Friday: “There can be no certainty that these discussions will lead to any transaction nor any certainty as to the terms upon which any such transaction might potentially proceed.” It added that further statements will be made if and when required.
Italy-based banking group UniCredit announced in July it was undertaking an in-depth, group-wide strategic review, focusing on how to reinforce and optimize its capital position, improve profitability and “ensure continuous transformation of operations whilst maintaining flexibility to seize value creating opportunities.” The review covers all major areas of the bank.
The bank will reveal the outcome of its strategic review at a Capital Markets Day in London on Dec. 13.
A spokesman for Amundi, which in October confirmed its interest in Pioneer, was not immediately available to comment.