The proposed merger would create an entity with combined assets under management over of EUR23 billion. The new group will also become the third largest manager in the French retail market.
The combined French platform for the management of real estate funds aimed at retail clients will benefit from a European investment capacity to serve the entire retail banking and insurance networks of the BPCE Group and La Banque Postale as well as external clients, particularly independent financial advisors.
For Natixis Global Asset Management, this strategic partnership with La Banque Postale will strengthen AEW Europe and its range of expertise in real assets and is fully in line with its multi-affiliate strategy.
Ciloger’s current owners are La Banque Postale (90 per cent) and CNP Assurances (10 per cent).
AEW Europe’s current owners are Natixis Global Asset Management (60 per cent) and the CDC Group (40 per cent).
The CDC Group’s 40 per cent stake in AEW Europe would be acquired by Natixis Global Asset Management prior to the completion of the transaction.
After completion of the proposed transactions, Natixis Global Asset Management is expected to own 60 per cent of AEW Europe with the remaining 40 per cent to be held by La Banque Postale.
This plan will be presented for discussion to the employee representative bodies of the different companies involved and is subject to obtaining the required regulatory approvals. (source: propertyfundsworld.com)