Natixis Global Asset Management has agreed to acquire 71.2% stake in French asset manager DNCA for EUR549m ($626m).
Under a progressive withdrawal mechanism which is due to start in 2016, Natixis Global Asset Management will raise its stake in DNCA to 100%.
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DNCA offers a range of investment solutions for retail clients across Europe and manages EUR14.6bn of assets under management at the end of January 2015.
Post acquisition, DNCA will join Natixis Global Asset Management’s global lineup of independent investment management affiliates.
The deal will allow DNCA to expand internationally into the retail markets outside of France and Italy.
Natixis Global Asset Management CEO Pierre Servant said: This projected acquisition furthers Natixis Global Asset Management’s strategy of expanding its multiaffiliate model in Europe and fueling our growth in retail markets through a unique combination of funds."
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