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Amundi to acquire Lyxor for a total cash consideration of €825M

Amundi to acquire Lyxor for a total cash consideration of €825M

French asset management firm, Amundi, has reportedly entered into exclusive talks with Société Générale for the takeover of Lyxor. The transaction involves an overall cash consideration of €825 million or a sum of €755 million, excluding excess capital.

The deal would benefit Amundi from strong levers for the acceleration of its development on the fast-growing ETF segment. The acquisition also complements the company’s offering in active management, especially in advisory solutions and in liquid alternative assets.

According to Amundi’s Chief Executive Officer, Yves Perrier, the takeover of Lyxor will accelerate Amundi’s development, as it will reinforce the company’s expertise, especially in alternative asset management and ETF. The acquisition will also allow the company to welcome highly recognized teams of people.

Perrier further stated that the deal is completely in line with the reinforcement strategy of the Credit Agricole group in the asset gathering business. The transaction will reinforce the company’s business relationships with its historical partner, Société Générale. Finally, it will add to the post-Brexit positioning of the Paris financial center by creating the European leader in passive asset management in France, added Perrier.

Established in 1998, Lyxor has €124 billion in Assets under Management (AuM) and is a pioneer in ETF in Europe. The company is one of the major participants in the ETF market and has created a recognized expertise in active management, notably via its leading alternative platform.

As per Amundi’s Deputy Chief Executive Officer, Valerie Baudson, the company is thrilled and is looking ahead towards welcoming the talented teams of Lyxor. The combinations of the companies’ strengths will enable the acceleration of their development in the investments solutions, ETF, and alternative asset management segments, stated Baudson.

Subject to the required anti-trust and regulatory approvals and after consultation of the Works Councils, the deal is anticipated to be completed by February 2022 at the earliest.

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