BNP Paribas Acquires AXA Investment Managers for €5.1 Billion

BNP Paribas has officially signed a €5.1 billion ($5.3 billion) share purchase agreement to acquire AXA Investment Managers (AXA IM), marking a significant step in their ongoing partnership. Following exclusive negotiations that began in August, the deal is expected to close by mid-2025, pending regulatory approvals. The merger will create one of Europe's leading asset management firms, combining BNP Paribas' existing unit with AXA IM's assets, totaling approximately €1.5 trillion. AXA aims to use proceeds from the sale to enhance its core insurance business and fund share buybacks. The acquisition is anticipated to impact BNP Paribas' common equity tier 1 ratio by 25 basis points. This transaction reflects a trend of consolidation in Europe's asset management industry, providing insurers an opportunity to optimize capital and streamline operations.