Amundi set to acquire Lyxor in €825m deal

Amundi is set to acquire European ETF house Lyxor for a total cash consideration of €825m, having entered into exclusive negotiations with parent group Société Générale. The acquisition, which could also cost the French asset manager €755m excluding excess capital, would turn Amundi into Europe's largest ETF provider with combines AUM of €142bn and a 14% market share. Amundi said the acquisition of Lyxor, which with €77bn in AUM is the third largest player in Europe's ETF market with a 7.4% market share, would provide the combined business with "a diversified profile in terms of clien...