8 November 2013
Clifford Chance advises Société Générale and Crédit Agricole on the Newedge and Amundi transactions
Clifford Chance advises Société Générale in relation to their exclusive negotiations for:
- The sale by Crédit Agricole CIB to Société Générale of its 50% stake in Newedge Group, their joint-venture for derivatives brokerage, for a consideration of EUR 275m, which would bring Société Générale's stake in Newedge Group to 100%.
- The acquisition by Crédit Agricole S.A. from Société Générale of a 5% stake in Amundi, their jointly owned asset management company, for an amount of EUR 337.5m, which would bring Crédit Agricole S.A.’s stake in Amundi to 80% and Société Générale’s stake in Amundi to 20%.
The completion of the project is subject to a final agreement between the parties, the authorisation of the relevant regulatory bodies and the consultation with the workers councils in France.
Clifford Chance advises Société Générale with Mathieu Remy (partner), Sue Palmer (counsel) and Marie-Aude Kfouri on the corporate aspects, Patrick Hubert (partner), Katrin Schallenberg (counsel) and Mélanie d'Anglejan Chatillon on the antitrust aspects, Frédérick Lacroix (partner) and Sébastien Praicheux on the regulatory aspects.