Generali’s $2.2 Trillion Natixis Tie-Up Faces Growing Doubts

Eight months after Assicurazioni Generali SpA and BPCE SA announced their intention to create Europe’s second-biggest asset manager, their plan is looking increasingly fragile.

Neither firm has yet submitted the contract for signing to their respective boards even though that was originally planned for June, people familiar with the matter said. Senior executives aren’t sure the deal, which would combine €1.9 trillion ($2.2 trillion) in assets under management in a joint venture, will still happen, they said. All asked not to be named discussing the private information.