Amundi to acquire Banco Sabadell asset management arm for €430m

Ten-year distribution partnership

Europe’s largest asset manager Amundi has agreed to acquire Banco Sabadell’s asset management arm for €430m (£363m) as the two firms enter a major 10-year distribution partnership.

Under the deal, expected to close in the third quarter of 2020, Amundi will acquire 100% of Sabadell Asset Management, which has €21.8bn of assets under management, excluding third-party funds. Amundi unveils multi-asset sustainable fund The strategic partnership will see Amundi distribute its products across Banco Sabadell's networks in Spain. Banco Sabadell said its retail clients will benefit from Amundi's savings and investments products, while the agreement will also reinforce Sabadell's commitment to increase customer satisfaction rates - one of the bank's commercial prioriti...