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Money Amundi (Crédit Agricole) should redeem Lyxor at Société Générale

12:30  07 april  2021
12:30  07 april  2021 Source:   lefigaro.fr

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Amundi SA agreed to buy Societe Generale SA’s fund management arm Lyxor in an 825 million-euro (0 million) cash deal that would make it the second-biggest provider of exchange-traded products in Europe. The Paris-based firm has entered into exclusive negotiations with the lender and expects Amundi , whose majority shareholder is French lender Credit Agricole SA, had about 1.7 trillion euros under management at the end of December. The firm was formed in a merger of SocGen ’s and Credit Agricole ’s fund management operations. SocGen later sold its stake and now offers investment

Amundi SA agreed to buy Societe Generale SA’s fund management arm Lyxor in an 825 million-euro (0 million) cash deal that would make it the second-biggest provider of exchange-traded products in Europe. “The acquisition of Lyxor will accelerate the development of Amundi ,” Perrier said in the statement. “It will reinforce our expertise, namely in ETF and alternative asset management, and allows us to welcome highly recognized teams of people.” Amundi , whose majority shareholder is French lender Credit Agricole SA, had about 1.7 trillion euros under management at the end of December.

Amundi (Crédit agricole) devrait racheter Lyxor à Société générale © Flickr Amundi (Crédit Agricole) should redeem Lyxor to Société Générale Amundi (Crédit Agricole Group) should redeem Lyxor to Société Générale for nearly 0.83 billion euros.

Crédit Agricole is in the process of extending its perimeter. Its subsidiary Amundi entered the exclusive negotiation with Société Générale for the redemption of the asset management activities carried out by Lyxor. This assignment, which should be finalized at the latest in February 2022, would be at the price of 825 million euros and would have to finalize the operation a positive effect estimated at about 18 basis points on the CET1 ratio of the group. The capital gain on a net taxation of taxes, which would be recognized in the finalization of the operation, would be about 430 million euros.

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Découvrez toutes les informations sur le Crédit Agricole : présentation du groupe, ses actions, ses implantations en France et à l’étranger, ses actualité Amundi Immobilier wins two awards at 2018 CF News de l’Immobilier awards.

Amundi is the specialist for asset management and thus possesses special expertise in this area. Measured by assets under management, the company with locations in 37 countries and its two German branches in Munich and Frankfurt is the largest asset management firm in Europe and is With profound knowledge of the investment universe, Amundi helps the customer to make sound decisions. Far-reaching expertise, a presence in the relevant financial centres and an investment culture based on research ensure that company and institutional customers receive individual solutions and

LYXOR is the entity that includes the group's asset management activities, and operates via Lyxor Asset Management , a wholly-owned subsidiary of . Created in 1998, Lyxor played a pioneering role in the development of specialized asset management, and benefits from a leadership position in passive management in Europe. The outstandings managed by Lyxor Asset Management total approximately 140 billion euros at the end of December 2020, including 124 billion euros under the scope of the transaction.

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This assignment project would cover passive management (ETFS) and active (including alternative) management activities that Lyxor realizes for institutional clients in France and internationally. The perimeter of the operation would include commercial and support functions dedicated to these activities. This agreement is part of the Société General Savings Strategy, which consists in operating in open architecture and to offer its clients investment and asset management solutions as part of partnerships with managers. external assets.

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Crédit Agricole Group. Reinventing ourselves every day, just for you. As a mutual and cooperative group, we belong to our customers and are driven by this relationship. Crédit Agricole Group once again confirmed as a leader in employer brand digital strategy in France.

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bank rate comparison in this context, Societe Generale will announce the project to create a "Wealth & Investment Solutions" cluster housed in the private bank . This cluster would serve as a center of expertise to structure savings, management and investment solutions for private banking and group retail banking networks as well as structured management solutions for clients. Steps. He would welcome Lyxor teams who would not be part of the transfer project.

Partnership Agreements with Amundi for the provision of savings and investment solutions for societal networks are also maintained. Societe Generale will also continue to accompany Amundi through its complete and flexible range of markets and trades solutions. For Société Générale, this operation would work successfully the refocusing program launched in 2018. carried out in very good conditions, its execution has allowed to simplify the organization of the group and to optimize the capital allowance by concentrating the business model on its heart activities, releasing significant synergies and enjoying a critical size ensuring long-term competitiveness, with a positive effect of this program on the online group's capital ratio with the target of 80 to 90 basics. .

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