Amundi Completes €1.4bn Rights Offering

April, 2017

Amundi announces that the capital increase through the distribution of preferential subscription rights to its existing shareholders launched on March 14, 2017 has been successfully completed. The final proceeds from the offering amount to €1.4 billion, corresponding to the issuance of 33,585,093 new shares. Following this transaction, Amundi becomes the first asset manager in Europe by market capitalization (€11.3 billion), and the 5th globally.

The rights offering will enable Amundi to finance a portion of the acquisition price for the acquisition of Pioneer Investments, the asset management branch of the UniCredit group, which amounts to €3,545m before price adjustments. The remainder of the acquisition price will be financed through a combination of approximately €1.5bn of Amundi's existing resources (making use of its excess capital), and approximately €600mn aggregate principal amount of senior and subordinated debt of Amundi.

The completion of the acquisition is expected to take place by the end of the second quarter of 2017 in accordance with the projected acquisition timeline.

Commenting on the transaction, Yves Perrier, Chief Executive Officer, said: "The success of this capital increase confirms our shareholders' confidence in our growth strategy. The integration of Pioneer Investments will reinforce Amundi's position as a European leader in the field of asset management and its growth dynamic."