logo
Plus   Neg
Share
Email

Societe Generale In Talks With Amundi To Dispose Asset Management Activities Operated By Lyxor

Societe Generale (SCGLF.PK,SCGLY.PK) said its Board approved the entry into exclusive negotiation with Amundi with a view to disposing of the asset management activities operated by Lyxor. Lyxor includes the Group's asset management activities. Societe Generale expects the deal to be finalized by February 2022 at the latest, at a price of 825 million euros. The capital gain from the disposal, net of tax, would be around 430 million euros.

Societe Generale noted that it would announce a project to create a Wealth & Investment Solutions department within its private bank. It would include Lyxor's teams, which would not be part of the disposal.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Uber Technologies Inc. (UBER) Wednesday reported a first-quarter loss that narrowed from last year, despite revenues dropping 16%, reflecting a gain from sale of self-driving unit. The ride-hail service's fourth-quarter loss was narrower than Wall Street estimates, but revenues fell short of expectations.... Social media giant Facebook's Workplace business tool has breached the seven million paid subscribers mark at a time when jobs have gone remote and is now the new normal amid the ongoing pandemic. The number of paid subscribers has grown 40 percent from last year. General Motors Co. (GM) Wednesday reported a profit for the first-quarter that surged from last year, driven by strong price and mix performance in North America, strong credit and residual value performance at GM Financial, as well as the industry recovery in China. Earnings per share topped analysts' expectations, while quarterly revenues missed their estimates.
RELATED NEWS
Follow RTT