Interested Parties Target NN Investment Partners
In a developing story, NN Investment Partners (NNIP), the investment arm of Dutch insurer NN Group, has attracted interest from several major companies looking to expand their asset management businesses.
According to recent reports, Goldman Sachs has confirmed its acquisition of NNIP to boost its European asset management operations. However, no definitive agreements have been announced, and no specific takeover price has been made public.
The interest in NNIP doesn't stop with Goldman Sachs. Swiss banking giant UBS and insurance conglomerate Allianz, as previously reported, are among the companies interested in acquiring NNIP. Italian insurer Generali and asset manager DWS are also reportedly in the running, having submitted initial bids for NNIP.
NNIP currently manages around €300 billion, making it an attractive target for these companies. The potential acquisition was initially announced in April when NN Group declared its intention to explore options for its investment subsidiary, including mergers or partial sales.
The news of the potential acquisition has been widely reported, with Bloomberg and Handelsblatt among the publications reporting on the interest in NNIP. NN Group's spokesperson, when asked for comment, referred to the April press release and declined further comment.
Experts estimate the takeover price for NNIP could reach €1.5 billion, but no specific valuation or price figures related to the acquisition by Goldman Sachs or any other potential takeover bids have been made available.
As the story unfolds, it remains to be seen which company will secure the acquisition of NNIP. Stay tuned for updates on this developing story.
Other companies apart from Goldman Sachs are also eyeing the finance sector expansion opportunity provided by NN Investment Partners. Swiss banking giant UBS, insurance conglomerate Allianz, Italian insurer Generali, and asset manager DWS are among those who have submitted initial bids for NNIP.
