Amundi set to acquire Lyxor
Posted: April 9th, 2021, 6:25 pm
Amundi has entered into exclusive negotiations to acquire fellow French ETF issuer Lyxor from Société Générale for a total cash consideration of €825 million.
The transaction is expected to be completed by February 2022 at the latest, subject to receiving the required regulatory and anti-trust approvals.
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There is significant overlap in Amundi and Lyxor’s ETF ranges with product mergers a likely outcome of any acquisition.
Indeed, Amundi currently has five ETFs with over €1bn in assets that track identical indices to equivalent Lyxor products that also house over €1bn. These include funds tracking the S&P 500 (collectively housing €9.9bn), Euro Stoxx 50 (€7.0bn), MSCI Emerging Markets (€5.8bn), CAC 40 (€5.0bn), and MSCI Europe (€4.8bn).
Looking further down each issuer’s product line-up presents further opportunities for consolidation.
https://www.etfstrategy.com/etf-issuer- ... ale-37484/
It appears both companies mostly use Luxembourg as an ETF domicile. Are ETF mergers relatively painless from an investor's point of view? I've never been through one (I hold one Lyxor, UK-oriented, Luxembourg-domiciled ETF).