Amundi is set to acquire European ETF house Lyxor for a total cash consideration of €825m (£710m), having entered into exclusive negotiations with parent group Société Générale.
The acquisition, which could also cost the French asset manager €755m excluding excess capital, would turn Amundi into Europe's largest ETF provider with combines AUM of €142bn and a 14% market share. Amundi said the acquisition of Lyxor, which with €77bn in AUM is the third largest player in Europe's ETF market with a 7.4% market share, would provide the combined business with "a diversified profile in terms of client base and geography". The French asset manager also noted that the acquisition would allow Amundi to "accelerate its development" within the ETF market and complement it...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
