SG ends ‘refocusing programme’ with sale of Lyxor to Amundi
Société Générale said on Wednesday that it was looking to sell its asset management arm Lyxor to French investor Amundi. The transaction will wrap up a three year restructuring programme, which has added up to 90bp to the bank’s capital ratios.
SG said that it had entered into an “exclusive negotiation” with Amundi, ending speculation that Lyxor could be sold to US firm State Street.
Lyxor has about €140bn in assets under management and about €124bn of these assets would be included in the deal with Amundi.SG ...