Allianz Global Investors is in exclusive talks to acquire United Overseas Bank's asset management unit, according to people familiar with the discussions.
11:17 PMBloomberg Markets7 stories from 5 sources
Control Deals Lead a Selective M&A Day
Day’s Recap
Supporting Articles
Finastra sold its U.S. mid-market banking business to CORA Group, transferring a portfolio that includes Phoenix Core Banking System, MalauzAi Digital Banking, Analyzer IQ, and Enterprise Content Management. The transaction shifts ownership of these products and their customer relationships to a software acquisition-focused buyer.
3:27 PMPYMNTSFinastra has sold its US mid-market core banking portfolio to Cora Group, part of Constellation Software. The divestiture shifts ownership of these banking platforms to a buyer known for operating and harvesting vertical market software.
9:52 AMFinextraPension funds and strategic energy buyers are exploring the purchase of a 50% to 60% stake in BlackRock-backed Australian battery developer Akaysha Energy. The process would bring in a new majority partner alongside BlackRock.
3:33 AMBloomberg Markets11:17 PMBloomberg Markets
AllianzGI Is Said in Exclusive Talks to Buy UOB Asset Management
Summary
Allianz Global Investors is in exclusive talks to acquire United Overseas Bank's asset management unit, according to people familiar with the discussions.
Why it matters
If completed, the transaction would reshape asset management competition in Singapore and accelerate consolidation as global managers buy regional platforms for growth.
3:27 PMPYMNTS
Finastra Sells Mid-Market Banking Business to CORA Group
Summary
Finastra sold its U.S. mid-market banking business to CORA Group, transferring a portfolio that includes Phoenix Core Banking System, MalauzAi Digital Banking, Analyzer IQ, and Enterprise Content Management. The transaction shifts ownership of these products and their customer relationships to a software acquisition-focused buyer.
Why it matters
Core and digital banking platforms are high-switching-cost infrastructure, so a change in ownership can quickly reshape vendor leverage, budgets, and modernization timelines for mid-market financial institutions.
9:52 AMFinextra
Finastra offloads US core banking suite
Summary
Finastra has sold its US mid-market core banking portfolio to Cora Group, part of Constellation Software. The divestiture shifts ownership of these banking platforms to a buyer known for operating and harvesting vertical market software.
Why it matters
Core banking ownership changes can reshape product investment and risk posture for banks whose operations depend on long-lived platforms.
3:33 AMBloomberg Markets
Funds, Industry Buyers Eye BlackRock’s Australian Battery Builder Akaysha
Summary
Pension funds and strategic energy buyers are exploring the purchase of a 50% to 60% stake in BlackRock-backed Australian battery developer Akaysha Energy. The process would bring in a new majority partner alongside BlackRock.
Why it matters
The deal is a live read on how cheaply capital can buy control of grid storage in a market where batteries are becoming core infrastructure.
Other Developments
A curated list of other prominent stories from this day.
Beauty dealmaking is being shaped by fewer, more selective buyers and tighter expectations on growth quality and profitability. Waldencast’s exit of Obagi Medical is used as a marker for how strategics and sponsors are pricing assets and choosing which brands to back.
11:00 AMBusiness of FashionOTB is buying the remaining 30% of Viktor & Rolf to take full ownership while keeping founders Viktor Horsting and Rolf Snoeren as creative directors. The deal consolidates control of the couture house under the group that also owns Diesel and Maison Margiela.
7:56 AMBusiness of FashionOTB has taken full control of Viktor & Rolf. Founders Viktor Horsting and Rolf Snoeren will remain creative directors under a five-year agreement.
3:11 AMWWD11:00 AMBusiness of Fashion
A Mid-Year M&A Check-In
Summary
Beauty dealmaking is being shaped by fewer, more selective buyers and tighter expectations on growth quality and profitability. Waldencast’s exit of Obagi Medical is used as a marker for how strategics and sponsors are pricing assets and choosing which brands to back.
Why it matters
The reset in beauty M&A will determine which brands can raise capital, find exits, and keep investing through a slower consumer cycle.
7:56 AMBusiness of Fashion
OTB Takes Full Control of Viktor & Rolf
Summary
OTB is buying the remaining 30% of Viktor & Rolf to take full ownership while keeping founders Viktor Horsting and Rolf Snoeren as creative directors. The deal consolidates control of the couture house under the group that also owns Diesel and Maison Margiela.
Why it matters
Control deals like this signal groups want cleaner structures to execute faster and capture full upside from brand turnarounds and monetization plans.
3:11 AMWWD
OTB Takes Full Control of Viktor & Rolf
Summary
OTB has taken full control of Viktor & Rolf. Founders Viktor Horsting and Rolf Snoeren will remain creative directors under a five-year agreement.
Why it matters
Full control plus a long creative contract reduces execution risk and signals an operational reset aimed at scaling the brand, not just showcasing it.
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