Generali: could buy NN Investment Partners

(CercleFinance.com) - Generali and DWS Group are reportedly in negotiations to buy NN Group's asset management business, which manages about 300 billion euros, according to Bloomberg this morning.


DWS Group and Generali are said to have submitted bids this week for NN Group's asset management business, according to people interviewed by the news agency.

The business, known as NN Investment Partners, has also attracted interest from UBS Group and Allianz, Bloomberg said.

Several other international asset managers, including some US companies, are also seeking a deal, Bloomberg adds.

NN said in April that it was reviewing options for its asset management business, including a merger and a partial sale.

The business could be worth around 1.5 billion euros, according to respondents.

Generali and NN Group shares are pretty flat on Friday.


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