Industry Updates

Amundi and Société Générale pen Lyxor sale; Deal to complete by year end

€825m acquisition

Tom Eckett

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The sale of Lyxor from Société Générale and Amundi has been signed by both parties today with the deal expected to complete by the end of the year.

In an announcement earlier this morning, Europe’s largest asset manager Amundi said the €825m acquisition had been finalised earlier than scheduled.

The firm said in a statement: “Amundi and SocGen announce the signature…of the master agreement for Amundi’s acquisition of Lyxor.”

The two firms entered into exclusive negotiations on 7 April with State Street dropping out of the race despite being in “advanced talks” with SocGen.

The acquisition will lead to an ETF business with around €142bn assets under management (AUM), ahead of DWS which currently sits in second spot.

At the time, Yves Perrier, the outgoing CEO of Amundi, said: “The acquisition of Lyxor will accelerate the development of Amundi, as it will reinforce our expertise, namely in ETF and alternative asset management, and allows us to welcome highly recognised teams of people.”

Lyxor sale would shape European ETF industry over next decade

Attention will now turn to consolidating the two ETF ranges which will have a number of significant overlaps especially around the core strategies.

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