Tue, 03/07/2018 - 11:00
Societe Generale has reached an agreement to acquire Commerzbank’s Equity Markets and Commodities business (EMC), a European manufacturer, distributor and market maker of structured and flow products as well as asset management solutions.
The firm writes that with a state of the art technology platform, it benefits from significant franchises in diversified and complementary segments.
The activities in the scope of this transaction are based in Frankfurt, London, Hong Kong, Paris, Luxembourg and Zurich. The transaction excludes the Cash Equity brokerage and commodities hedging businesses of Commerzbank.
Societe Generale writes that in line with its strategy to further extend its Global Banking and Investor Solutions activities by leveraging on its strengths, the acquisition of these activities from Commerzbank would reinforce the bank’s global leadership in derivatives and investment solutions across asset classes and would contribute to Lyxor’s development in Europe by boosting its ETF franchise and complementing its active management offering with a set-up and a product range well-suited to answer the needs of German institutional clients in particular.
“Societe Generale and Commerzbank’sEMC franchises are complementary and present an important potential of synergies. This acquisition would further reinforce our Global Banking and Investor Solutions activities in line with our 2016-2020 strategic plan,” says Séverin Cabannes, Deputy Chief Executive Officer.
“In addition, while complementing Lyxor’s ETF franchise, this acquisition would be transformational for our activities in Germany as it would enable Societe Generale to reach a new scale in the leading Eurozone economy. Upon integration, this transaction would bring numerous benefits to clients: the reach and geographical footprint, an extended cross-asset product set, the technology and expertise from two associated leading platforms”.
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