By Andrei Skvarsky.
France’s BNP Paribas is considering a partial buyout of a Russian subsidiary of US-based investment manager Pioneer Investments from Italy’s UniCredit.
TKB BNP Paribas Investment Partners, a firm controlled by the French lender and Russian railways monopoly RZD, would take over three funds with total assets of 998m rubles ($31.4m) from Pioneer via the potential deal, according to Russian newspaper RBC Daily.
Pioneer would meanwhile continue to manage several pension funds with which it has contracts expiring in spring 2012 and to look after private money some of which belongs to UniCredit clients.
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