Voya Financial (VOYA) To Merge With Allianz Investors - Slideshow

Transaction Overview - Voya IM's AUM increases to approximately $370 billion on a pro forma basis[8] - Voya will hold a 76% economic stake and Allianz Group will hold a 24% economic stake in the combined asset manager[14] - The transaction is expected to close in July 2022, at which time Voya will have full operational control[21] Financial Benefits - The transaction is immediately cash accretive, with an estimated 6% - 8% increase to adjusted operating earnings per share in 2023[5, 17, 25] - Investment Management adjusted operating margin is expected to increase from 26% to 30% - 32%[5, 19, 28] - Voya preserves its $0.9 billion excess capital position and maintains financial flexibility[30] Strategic Advantages - The transaction expands international distribution through a long-term strategic partnership with Allianz Global Investors (AllianzGI)[5] - Voya IM's non-US client base is expected to grow from 9% to 27%[35] - AllianzGI US is transferring $120 billion of diversified assets to Voya IM, resulting in a pro forma AUM of $373 billion[39]