.jpg)
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
EQT, Perpetual Ltd
Sweden-headquartered EQT AB has boosted its takeover bid for
Australian investment management firm Perpetual Ltd. to around
A$2.6 billion ($1.8 billion), Perpetual Ltd said yesterday.
The offer of A$22.50 per share marks a rise of about 2 per cent
from a prior bid of A$22.07 announced earlier in July and is 4
per cent, Perpetual Ltd said in a statement.
“The Perpetual board is assessing the further indicative proposal
with the assistance of its financial and legal advisers. The
board has not yet formed a view on the merits of the further
indicative proposal and no recommendation is being made to
shareholders at this time,” it said.
Perpetual agreed earlier this year to sell its wealth management
unit to Bain Capital.
BNP Paribas, Warburg Pincus
The insurance arm of BNP Paribas has agreed to acquire the
holding from Warburg Pincus, taking a shareholding alongside Bank
of Baroda and Union Bank of India.
Under terms of the deal, BNP Paribas Cardif has entered a
definitive agreement to acquire a stake of about 26 per cent in
IndiaFirst Life Insurance Company from Warburg Pincus. The
transaction is awaiting regulatory approval.
Once completed, IndiaFirst Life”s shareholder base will comprise
Bank of Baroda with about 65 per cent, BNP Paribas Cardif with
about 26 per cent, and Union Bank of India with approximately 9
per cent, BNP
Paribas said in a statement.
BNP Paribas Cardif and Bank of Baroda already operate a
joint venture in asset management.
BNP Paribas Cardif has a bancassurance partnership model in 30
countries with more than 500 partner distributors spanning banks,
automotive companies, retailers and telecommunications firms. The
insurer, which reported gross written premiums of €40.5 billion
in 2025, employs 9,000 people worldwide.
The transaction adds to BNP Paribas Cardif’s expansion in Asia,
where the insurer has been building out partnership-led
distribution alongside its established positions in Europe and
Latin America. India’s life insurance sector has drawn sustained
interest from global insurers and private equity investors in
recent years, given the market’s low penetration rates relative
to its population and growing middle class.