Generali and Natixis (BPCE group) on
Tuesday signed a non-binding memorandum of understanding to
create a European asset management giant that will have 1.9
billion euros in assets under management and 4.1 billion euros
in revenues, according to a note that said the accord between
the two companies is valid for 15 years.
Under the deal to combine asset management operations, BPCE's
Natixis Investment Managers and Generali Investments will each
own 50% of the business.
The joint venture will operate with "balanced governance and
controlled rights" and the closing, which will need all the
necessary authorizations, should be completed at the beginning
of 2026, according to the note.
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