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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.

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