Amundi: in talks to acquire Lyxor
(CercleFinance.com) - Amundi announces that it has entered into exclusive negotiations with Société Générale to acquire Lyxor for a cash consideration of 825 million euros (755 million euros excluding excess capital).
"Thanks to this acquisition, Amundi would become the European leader in ETF, with E142bn combined AuM, a 14% market share in Europe[7] and a diversified profile in terms of client base and geography," it said.
Amundi expects the acquisition to generate a return on investment of over 10% over a three-year period (including cost synergies alone). Subject to the usual regulatory conditions, the transaction will be completed by February 2022 at the latest.
It seems like a good deal for both companies - half an hour into trading on Wednesday in a slightly positive market (+0.2%) the Amundi share was up about 3%, while Société Générale shares had increased by almost 1.5%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
"Thanks to this acquisition, Amundi would become the European leader in ETF, with E142bn combined AuM, a 14% market share in Europe[7] and a diversified profile in terms of client base and geography," it said.
Amundi expects the acquisition to generate a return on investment of over 10% over a three-year period (including cost synergies alone). Subject to the usual regulatory conditions, the transaction will be completed by February 2022 at the latest.
It seems like a good deal for both companies - half an hour into trading on Wednesday in a slightly positive market (+0.2%) the Amundi share was up about 3%, while Société Générale shares had increased by almost 1.5%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.