Amundi will be pursuing new deal opportunities following the firm’s successful merger with Lyxor.
The French asset manager will consider opportunities in Europe and Asia using €1.2 billion of surplus capital from 2022.
The firm’s chief executive officer, Valerie Baudson, announced the hunt for new deals following the completed integration of Lyxor.
The deal was completed in nine months and returned one-third of its expected €60 million cost synergies to Amundi.
The firm’s potential new deals will be subject to two main financial conditions, including a return on investment of 10%.
New deals must also include an assurance the deal is properly executed following the acquisition.
Baudson said: “On the M&A, we have the opportunity to look at close to everything which is for sale. We have three main focuses [but] the first one is to make sure that any acquisition is actually accelerating our organic growth, which is always the priority.”
Amundi will continue to merge the Lyxor ETF range with its Amundi counterparts to achieve “economies of scale.”
Amundi and Lyxor funds will also be merged to broaden the firm’s range of climate-conscious ETFs.
The firm has already turned 27% of its ETF range into ESG ETFs to achieve its target of 40% by 2025.
To attain this goal, Amundi has recently rolled Lyxor funds into new funds to add to the firm’s climate transition benchmark (CTB) range.
In February, the firm merged three existing ETFs from Lyxor to launch new Article 8 European and Pacific equity ETFs.
© 2023 funds europe