Amundi: partnership with Banco Sabadell in Spain
(CercleFinance.com) - Amundi has announced a 10-year strategic partnership for the distribution of its products at Sabadell's agencies in Spain, to accelerate the development of Banco Sabadell's savings and investment products and its fund management business.
The alliance also includes Amundi's acquisition of all of Sabadell Asset Management's capital, which has 21.8 billion euros in assets under management, including 16.1 billion euros by funds domiciled in Spain.
This 430 million euro acquisition will be exclusively financed by Ammundi's free cash. Submitted for approval to regulators, the deal is expected to be concluded in Q3 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The alliance also includes Amundi's acquisition of all of Sabadell Asset Management's capital, which has 21.8 billion euros in assets under management, including 16.1 billion euros by funds domiciled in Spain.
This 430 million euro acquisition will be exclusively financed by Ammundi's free cash. Submitted for approval to regulators, the deal is expected to be concluded in Q3 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.