2 Min Read
LONDON, Oct 4 (Reuters) - Four bidders are vying for UniCredit's fund management arm Pioneer as the auction for the $3.35 billion unit moves to the second round of bidding, sources familiar with the matter said on Tuesday.
Europe's biggest asset manager Amundi and an Italian consortium led by Poste Italiane are seen as the frontrunners after submitting the highest non-binding offers in September, the sources said.
But two other companies, Australia's Macquarie and British group Aberdeen Asset Management, are also interested in the business which has over 220 billion euros ($245.48 billion)of assets under management, the sources said.
UniCredit, Amundi, Poste Italiane, Macquarie and Aberdeen declined to comment.
UniCredit seeks to raise around 3 billion euros ($3.35 billion) from the sale of Pioneer, a deal seen as crucial to plug a gap in its capital requirements estimated to be as big as 8 billion euros. (Reporting by Pamela Barbaglia, additonal reporting by Maya Nikolaeva; Editing by Rachel Armstrong)