The entity dedicated to the management of assets of the public banking group La Banque Postale, LBP AM, announced on Monday the entry into exclusive negotiations with the Primonial group for the acquisition of La Financière de l’Echiquier (LFDE).
The 11 billion euros under management by LFDE would add to the some 56 billion euros managed at the end of last year by LBP AM, 75% owned by Banque Postale and 25% by Aegon Asset Management.
The acquisition of La Financire de l’chiquier would be a growth accelerator for LBP AM, which would thus strengthen its activities by integrating recognized teams, according to the chairman of the management board of the Banque Postale Philippe Heim, recently reappointed.
La Banque Postale, a subsidiary of La Poste itself owned by Caisse des Dépts (CDC) and the State, shares this announcement on the eve of the detailed publication of its 2022 results.
Those of its owner last Thursday indicated that the bank had made 1.06 billion euros in net profit last year, thanks in particular to the activities of CNP Assurances.
The transaction is expected to close during the second quarter. Its amount has not been disclosed.