Newspaper article International New York Times

Amundi to Buy Control of Irish Asset Manager

Newspaper article International New York Times

Amundi to Buy Control of Irish Asset Manager

Article excerpt

Amundi will acquire a 87.5 percent stake in the company from Oddo & Cie, with Kleinwort Benson Investors' management owning the rest.

Amundi, one of the largest asset managers in Europe, said on Monday that it had agreed to acquire a majority stake in the Irish institutional asset manager Kleinwort Benson Investors from the French financial services company Oddo & Cie.

Amundi, which went public in November, said it would acquire an 87.5 percent stake in Kleinwort Benson Investors, while the remaining 12.5 percent would be owned by the management of the Irish company.

Terms of the transaction were not made public.

Based in Dublin, Kleinwort Benson Investors had 7.6 billion euros, or about $8.5 billion, in assets under management as of the end of March. The company, which also has offices in Boston and in New York, reported revenue of EUR 31 million in 2015. …

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