Binder Grösswang Advises on Sale of Pioneer Investments Austria GmbH

Binder Grösswang advised the Italian firm Pioneer Global Asset Management S.p.A. on the sale of its Austrian subsidiary Pioneer Investments Austria GmbH to the Amundi Group, headquartered in France. The transaction was closed on 3 July 2017.

The transaction is part of the sale of the asset manager Pioneer Investment by the major Italian bank UniCredit for EUR 3.5 billion, a global transaction involving more than thirty countries.

Binder Grösswang partner Michael Binder comments: "We are pleased to have been able to advise on this major international transaction. Binder Grösswang has once again demonstrated its comprehensive expertise in international M&A business, this time in the field of financial services providers."

Based on total assets under management, Amundi is the largest asset manager in Europe and one of the ten largest investment companies worldwide. Following the takeover of Pioneer Investments in July 2017, the company now manages assets in a total amount of more than EUR 1.3 billion at six global investment centres.

Binder Grösswang's core team (Banking & Finance and Corporate/M&A): Michael Binder (partner) and Kerstin Pokorny (attorney at law) as well Gottfried Gassner (partner).