Anima Appoints Advisors for Buyout Proposal

MILAN (Reuters) – Italian asset manager Anima announced on Friday that it has appointed Goldman Sachs as a financial adviser to evaluate a buyout proposal from Banco BPM, worth up to 1.6 billion euros ($1.71 billion).

Banco BPM, Italy's third-largest bank, currently owns 22% of Anima. The buyout offer made earlier this week aims to take Anima private and is contingent upon acquiring at least 67% of the fund manager's shares.

In addition to Goldman Sachs, Anima has enlisted law firm Gatti Pavesi Bianchi Ludovici as its legal adviser, as stated in a post-board meeting announcement.

Moreover, independent directors will receive support from financial adviser Vitale&Co. for financial matters and law firm A&O Shearman for legal concerns, according to the statement.

(Note: $1 = 0.9343 euros)