SocGen in talks with Amundi over Lyxor sale

Mittwoch, 07. April 2021 10:06

French bank Societe Generale S.A. announced on Wednesday that it has entered into exclusive talks with Amundi S.A. over the sale of its asset manager Lyxor in a deal worth €825 million, or €755 million excluding excess capital.

The acquisition would allow Amundi to become "a leader in exchange-traded funds (ETFs) in Europe" the company claimed. Societe Generale would retain some Lyxor operations, while Lyxor's ETFs and active management activities for institutional clients in France and abroad would be included in the sale.

The transaction is set to be completed no later than February 2022, with expected capital gains being around €430 million.

Related Links: Société Générale S.A.
Author:
Breaking the News / MJ