Amundi: final agreement signed with Victory Capital
(CercleFinance.com) - In accordance with the MoU signed on 16 April, Amundi has signed a definitive agreement with Victory Capital concerning their transaction, which will enable the French asset and investment manager to strengthen its presence in the US.
Through this transaction, Amundi US will be merged with Victory Capital, with Amundi becoming a strategic shareholder of the new entity with a 26.1% economic interest. A 15-year distribution and service agreement will be put in place.
Amundi expects this transaction, which does not include any cash payment, to generate moderate accretion to its adjusted EPS. The transaction, which is subject to the usual conditions, is expected to close in late 2024 or early 2025.
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Through this transaction, Amundi US will be merged with Victory Capital, with Amundi becoming a strategic shareholder of the new entity with a 26.1% economic interest. A 15-year distribution and service agreement will be put in place.
Amundi expects this transaction, which does not include any cash payment, to generate moderate accretion to its adjusted EPS. The transaction, which is subject to the usual conditions, is expected to close in late 2024 or early 2025.
Copyright (c) 2024 CercleFinance.com. All rights reserved.