Amundi and CA Immoblier to merge real estate management
Amundi, which is a subsidiary jointly created in 2010 by French firms Crédit Agricole and Société Générale to regroup their asset management activities following the financial crisis, and CA Immobilier are planning to merge their real estate management arms, according to a statement from the firms.
The companies’ specialized management divisions, Amundi Immobilier and CA Immobilier Investors, are expected to merge by the end of the year via a share swap.
According to the statement, the purpose of the deal is to “create a French player on a European scale, driving ambitious business development with large institutional clients in France and abroad.”
CA Immobilier Investors had close to €5 billion ($5.62 billion) in assets under management at the end of 2015, primarily invested in office and retail properties across Europe. Amundi Immobilier had more than €12 billion ($13.5 billion) in assets under management at the end of 2015. Following th