Amundi :Successful completion of Amundi's €1.4 billion rights offering in connection with its planned acquisition of Pioneer Investments

Successful completion of Amundi's €1.4 billion rights offering
in connection with its planned acquisition of Pioneer Investments

Paris, April 5, 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^[1] 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^[2]), and the 5^th 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 €3,545 million before price adjustments. The remainder of the acquisition price will be financed through a combination of approximately €1.5 billion of Amundi's existing resources (making use of its excess capital), and approximately €600 million 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."

Following completion of the rights offering, Amundi's shareholding structure will be as follows:

Shareholders                    (% of share capital after the capital increase)

Crédit Agricole group¹            70,0%
Employees                               0.2%
Public²                                          29.8%
TOTAL                                   100.0%

⁽¹⁾    Includes holdings of Crédit Agricole SA, SACAM Développement and Crédit Agricole Immobilier.
⁽²⁾    Includes 50,100  shares held in connection with the liquidity agreement, representing 0,025% of the  total.

Following the subscription period, which ended on March 31, 2017, total demand for shares in the rights offering amounted to approximately 70,099,352 shares, corresponding to a subscription rate of approximately 209 %:
33,568,953 new shares were subscribed by shareholders or transferees of preferential subscription rights through subscription orders for the minimum number of shares to which the rights they exercised entitled them (à titre irréductible), representing approximately    99.95 % of the total number of new shares to be issued;
subscription orders subject to reduction (à titre réductible) represented 36,530,399 new shares, and will therefore only be partially fulfilled, for 16,140 additional new shares (representing 0.05 % of the new shares to be issued).
Settlement and delivery and beginning of trading on Euronext Paris for the new shares will take place on April 10, 2017. The new shares will carry full dividend rights, including rights to the dividend that will be proposed at the shareholders' meeting to be held on May 18, 2017. The new shares will be, as from their issuance date, fully fungible with and will be traded under the same ISIN code as Amundi's existing shares (ISIN Code FR0004125920).
Following the rights offering, Amundi's issued share capital will consist of 201,510,562 shares with a nominal value of €2.5 each, representing a total share capital of  €503,776,405.
Information available to the public
A French language prospectus including (i) the registration document (document de référence) of Amundi registered with the French Autorité des marchés financiers ("AMF") on March 13, 2017 under n° R.17-006 and (ii) a securities note (note d'opération) (which includes the summary of the prospectus) filed with the AMF and which received visa n° 17-095 dated March 13, 2017 is available free of charge from Amundi (91-93 Boulevard Pasteur, 75015 Paris) as well as on the websites of the AMF (www.amf-france.org) and the company (www.le-groupe.amundi.com). Amundi draws the public's attention to the risk factors included in Chapter 2 "Corporate Governance" and Chapter 5 "Risk Management and Capital Adequacy" of the registration document, and in Chapter 2 "Risk Factors" and in Section 10.5 "Information related to Pioneer Acquisition" of the securities note.
About Amundi
Publicly traded since November 2015, Amundi is the largest European Asset Manager in terms of AUM^(*), with over 1,000 billion euros of assets under management worldwide. Headquartered in Paris, France, Amundi has six investment hubs located in the world's key financial centres, and offers a combination of research depth and market experience that has earned the confidence of its clients. Amundi is the trusted partner of 100 million retail clients, 1,000 institutional clients and 1,000 distributors in more than 30 countries, and designs innovative, high-performing products and services for these types of clients tailored specifically to their needs and risk profile. See www.le-groupe.amundi.com for more information.   
^(*) No.1 European asset manager based on global assets under management (AUM) among asset managers with their main headquarters in Continental Europe - Source IPE "Top 400 asset managers" published in June 2016 and based on AUM as at December 2015.
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Calendar of financial communication
April 28, 2017: publication of 1^st quarter results for 2017
May 18, 2017: shareholders' meeting
July 28, 2017: publication of half-year results for 2017
October 27, 2017: publication of the results for the first three quarters of 2017

Disclaimer

This press release and the information contained herein do not constitute an offer to sell or purchase, or the solicitation of an offer to sell or purchase, securities of Amundi.

No communication or information relating to the contemplated rights offering may be distributed to the public in any jurisdiction (other than France) in which registration or approval is required. No action has been (or will be) undertaken in any jurisdiction outside of France where such steps would be required. The subscription for or purchase of securities of Amundi may be subject to legal or statutory restrictions in certain jurisdictions. Amundi assumes no responsibility for any violation of such restrictions by any person. The distribution of this press release in certain jurisdictions may be restricted by law.

This press release does not constitute a prospectus within the meaning of Directive 2003/71/EC as amended (the "Prospectus Directive").

With respect to each member State of the European Economic Area other than France (the "Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring a publication of a prospectus in any Member State. As a result, the securities of Amundi may only be offered in the Member States (a) to qualified investors, as defined by the Prospectus Directive; or (b) in any other circumstances, not requiring Amundi to publish a prospectus as provided under Article 3(2) of the Prospectus Directive.

For the purposes of this paragraph, "securities offered to the public" in a given Member State means any communication, in any form and by any means, of sufficient information about the terms and conditions of the offer and the securities so as to enable an investor to make a decision to buy or subscribe for the securities, as the same may be varied in that Member State.

The above selling restrictions are in addition to any other selling restrictions which may be applicable in the Member States.

The distribution of this press release is directed only at (i) persons outside the United Kingdom, subject to applicable laws, or (ii) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 as amended (the "Order") or (iii) high net worth bodies corporate, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) (a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The rights issue is only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such rights will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on, this press release or any information contained herein.

This press release does not constitute an offer or invitation to sell or purchase, or a solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America.

The distribution of this press release in certain countries may be prohibited under applicable law.

This press release may not be published, transmitted or distributed, directly or indirectly, and does not constitute an offer of securities, in the United States (including in its territories and dependencies and in any State of the United States), in Canada, in Australia or in Japan.