SAO PAULO Italian money manager Azimut Holding SpA (AZMT.MI) is close to announcing the combination of Brazilian units AZ Quest Investimentos Ltda and AZ Legan Asset Management Ltda, two people with direct knowledge of the deal said on Monday.
The combined firm could have about 4.3 billion reais ($1.3 billion) in assets under management, said one of the people, who requested anonymity because the deal remains private. The transaction could be announced as early as Monday, the people said.
Representatives from Azimut in Brazil declined to comment.
(Reporting by Guillermo Parra-Bernal and Bruno Federowski; Editing by Tom Brown)