BNP Paribas Investment Partners buys a 28.3% stake in Impax Group PLC
Wednesday, December 19, 2007
Parties to further develop their existing partnership to
manage and distribute funds investing in the environmental
sector
Paris - London, 19 December 2007 - BNP Paribas Investment
Partners ("BNPP IP"), a leader in the European asset management
industry, and Impax Group plc, the quoted investment manager
focusing on the environmental markets sector ("Impax") announce
that, following the publication earlier today of Impax's
Preliminary Statement of Results, BNP Paribas Investment Partners*
has acquired from existing Impax shareholders 31 million
ordinary shares, corresponding to 28.31 percent of Impax's
issued share capital and increasing its total holding to 29.42
percent.
Impax and BNP Paribas Investment Partners initiated their
cooperation in May 2006, when Impax started advising BNPP IP's
"Parworld Environmental Opportunities" fund. It has since developed
further, with Impax providing advisory services to two funds
initiated by BNP Paribas Investment Partners targeted at clients in
Korea and Malaysia, and, today, with a further agreement under
which BNPP IP will distribute in parts of Europe, Asia-Pacific and
the Middle East, products that are managed or advised by Impax.
Gilles Glicenstein, Head of BNP Paribas Investment Partners,
said: "The acquisition of a minority stake in Impax is a natural
extension of a cooperation started 18 months ago. Impax's core
activity is focused in a key area of development for our clients
and BNPP IP. We are convinced that this new step will reinforce our
capacity to deliver state-of-the-art expertise in a fast growing
market."
Ian Simm, Chief Executive of Impax Group plc, said: "Impax is
now established as a leading investment manager in the rapidly
expanding environmental sector. We are delighted to be able to
extend our relationship with BNP Paribas Investment Partners, and I
believe that both parties are set to benefit significantly from
closer co-operation."
* acting through the holding company BNP PAM
Group
About BNP Paribas Investment Partners
BNP Paribas Investment Partners brings together the full palette of
asset management expertise of the BNP Paribas group. Through a
unique platform that offers immediate and simplified access to a
broad range of specialist Partner companies BNP Paribas Investment
Partners has become a leader among the multi-specialist asset
managers. At 30 September 2007, assets under management were EUR
348 billion*, nearly half of which managed for institutional
clients. With 2,000 professionals servicing clients in over 70
countries, the network of Partners provides clients with the most
advanced and dedicated expertise in asset management today,
blending excellence in client service with innovative solutions
that can highlight or combine specialities.
* assets under advisory included
About Impax Group PLC
Impax was founded in 1994 as a specialist finance house
focusing on the markets for cleaner or more efficient delivery of
basic services of energy, water and waste. These markets are
expanding rapidly, as business and political leaders encourage the
development of cleaner products and services in response to the
increasing pressures placed on the environment. Impax's dedicated
team of professionals, with many years of experience in the
financial and environmental sectors, is ideally placed to
understand and take advantage of the investment opportunities
arising from these growing markets. Acting through its wholly owned
subsidiary Impax Asset Management Ltd, Impax manages or advises
over US $2 billion of assets as at 14 December 2007 for
institutional and private investors, across a range of listed and
private equity funds. Impax is listed on the Alternative Investment
Market of the London Stock Exchange.
For further information please contact:
Impax Group plc
Tom Whitehouse, Carbon International (Public
Relations)
+ 44 (0) 20 7483 7201
+44 (0) 7989 333542
BNP Paribas Investment Partners
Sandrine Romano
+ 33 (0)1 58 97 74 49
BNP Paribas
Céline Castex
+ 33 (0)1 42 98 15 91