trending Market Intelligence /marketintelligence/en/news-insights/trending/umxoanr-7pgbqqoca7yyva2 content esgSubNav
In This List

Report: BlackRock in talks to buy minority stake in Italian asset manager

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Report: BlackRock in talks to buy minority stake in Italian asset manager

BlackRock Inc. is in talks to acquire a minority stake in Italian asset manager Eurizon Capital SGR SpA, the Financial Times reported, citing "several people briefed on the negotiations."

The New York-based asset management giant is also looking to explore a distribution arrangement with the Intesa Sanpaolo SpA unit.

Eurizon CEO Tommaso Corcos reportedly plans to sell up to one-fifth of the business and is keen to close a deal by the end of 2018. BlackRock intends to acquire a 10% stake in the Italian company, which manages about €314 billion in client assets. Financial terms are not finalized yet, according to the report.

BlackRock is a holder of a 5% stake in Intesa Sanpaolo.

BlackRock and Eurizon declined to comment to FT on the development.