SocGen Is Preparing Sale of Asset-Management Subsidiary Lyxor -Reuters

--Societe Generale SA is gearing up to sell its asset-management subsidiary Lyxor as the French bank is trying to boost its financial performance after booking losses during the first six months of the year, Reuters reported Sunday, citing two unnamed sources.

--The sale of Lyxor, which had roughly 132 billion euros ($156.31 billion) of assets under management mid-year, is expected to start in the fourth quarter of this year, Reuters reported. Although SocGen recently contacted parties that could be interested in such an acquisition, no deal is certain yet, Reuters said.

--The business could be valued at around $1 billion, Reuters reported, citing one of the sources.

Full story: https://reut.rs/3iSuOjm

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September 21, 2020 04:16 ET (08:16 GMT)

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