Allianz Global Investors Agrees to Transfer Majority of US Business to Voya
17 Mayo 2022 - 10:43AM
Noticias Dow Jones
By Cecilia Butini
Allianz SE has entered into a memorandum of understanding to
transfer investment teams and assets under management belonging to
its U.S. Subsidiary Allianz Global Investors US to Voya Investment
Management, the German insurer and Voya said Tuesday.
According to Voya, the planned strategic partnership is in
anticipation of a definitive purchase agreement being finalized in
the coming weeks. The proposed transaction will see Voya acquiring
Allianz Global Investors U.S. equity and fixed income investment
teams, as well as about $120 billion of assets under management
consisting of income and growth, fundamental equity, and private
placement assets.
"As consideration for the transfer, Allianz Global Investors
would receive a stake in the enlarged entity and long-term, global,
cross-distribution agreements," Allianz said.
According to Voya, the stake will be up to 24%.
Allianz's U.S. investing division on Tuesday pleaded guilty to
defrauding investors and agreed to pay more than $6 billion in
penalties and restitutions.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
May 17, 2022 11:28 ET (15:28 GMT)
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