UniCredit sells Pioneer to Amundi for more than $4.2 billion: source

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The headquarters of UniCredit bank in Milan, Italy, February 8, 2016. REUTERS/Stefano Rellandini (Copyright Reuters 2016)

Italy's biggest bank by assets UniCredit has reached a deal to sell its asset manager Pioneer to France's Amundi for more than 4 billion euros ($4.21 billion), a source with knowledge of the matter said on Sunday.

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The deal involves a special dividend to be paid to UniCredit, the source said.

(Reporting by Paola Arosio, editing by Silvia Aloisi)