Amundi completes the acquisition of Lyxor, a subsidiary of Societe Generale

Posted on Dec. 2021 at 16:40Updated Dec. 2021 at 16:45

The finalization of the transaction took place earlier than expected. The European asset management giant, Amundi, announced on Friday the completion of the acquisition of Lyxor, the asset management subsidiary of Société Générale, for an amount of 825 million euros. “All the necessary regulatory and competitive approvals have been obtained. This transaction was carried out for a total price of 825 million euros, two months ahead of schedule, ”Amundi and Société Générale assured in a press release. Last June, Amundi and Société Générale announced that they had signed the framework agreement for the acquisition, ahead of the schedule initially envisaged.

The sale concerns the passive management activities of Lyxor, but also those of active management for “institutional clients in France and abroad”, the two groups had specified in June. In total, 124 billion euros in assets are part of the scope concerned, according to figures given by the two groups in April. “Passive management” is done via ETFs, funds which replicate a given index, such as the CAC 40, as opposed to so-called “active” management, when the fund itself selects the securities in which the money is placed. .

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