BNP Paribas, AXA Sign Deal for $5.3 Billion Acquisition of AXA IM.

BNP Paribas and AXA have agreed on a $5.3 billion deal for the acquisition of AXA Investment Managers, which will create one of the largest money managers in Europe. The transaction is expected to be completed in mid-2025, pending regulatory approvals, and will result in a combined business overseeing assets worth €1.5 trillion. BNP Paribas aims to strengthen its position in managing long-term savings assets, while AXA will focus more on its core insurance operations after exiting the asset-management business. [Extracted from the article]