Deals
Amundi to Merge Unit With Victory Capital in US Growth Push
- Amundi to be major shareholder in Victory, get board seats
- Firms agree to enter 15-year reciprocal distribution accord
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Amundi SA agreed to merge its US unit into Victory Capital Holdings Inc. as Europe’s largest asset manager seeks to grow in the country.
Amundi will get a 26.1% stake in the US investment manager in exchange for adding its local unit to Victory, according to a joint statement Tuesday. The French company would get two seats on Victory’s board and the two parties would also enter into a 15-year reciprocal distribution pact.