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AXA to sell investment management division to BNP Paribas for €5.4bn
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investmentweek.co.ukUnder the deal, AXA would also receive around €300m from the sale of Select, formerly Architas, to AXA IM before the closing of the transaction, bringing the total proceeds to €5.4bn. The sum would represent a multiple of 15x 2023 earnings, AXA noted. Additionally, AXA and BNP Paribas would enter into a long-term strategic partnership, where BNP would provide investment management services to AXA. If the deal goes ahead, it will create a European asset manager with around €1.5trn in assets under management. AXA IM to acquire US private equity boutique W Capital Partners AXA s...
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