Amundi has finalised its acquisition of Sabadell Asset Management, six months after announcing the €430 million cash deal to buy the €21 billion fund arm of Banco Sabadell.
The Spanish bank has also signed a 10-year strategic partnership for the distribution of Amundi products across its branches in the Iberian country.
The French fund giant had fought off interest from rivals Allianz and Candriam to buy Sabadell Asset Management.
Yves Perrier, chief executive of Amundi, said: “We are convinced that this new growth driver offers a solid potential for development.
“This partnership is in line with Amundi’s strategy in Europe to deliver its capabilities and resources to serve customers through retail networks.”
