Voya Financial, Inc. (NYSE: VOYA) has entered into a memorandum of understanding with Alliaz Global Investors, whose parent company is Allianz SE (OTC: ALIZY).
The agreement will involve Allianz transferring the majority of its U.S. business to Voya’s asset management business.
What Happened: In Tuesday’s announcement, Voya said the planned strategic partnership comes ahead of a definitive purchase agreement that will be finalized in the coming weeks.
“We believe this to be a unique opportunity to acquire highly complementary investment management teams and assets, at scale, while preserving our strong excess capital position for additional value-creation actions,” said Rodney O. Martin, Jr., Voya Financial’s chairman and chief executive officer.
“We will also continue to execute on the organic growth plans that we shared at our Investor Day in November 2021 so that we can build upon …
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