Société Générale, advised by Clifford Chance, has purchased Crédit Agricole CIB’s 50% stake in Newedge, their common joint venture broker, for an amount of 275 million Euros. Following this transaction, Societe Generale now owns 100% of Newedge Group.

Concurrently Crédit Agricole SA has acquired a 5% stake in Amundi from Societe Generale, their joint venture asset management company, for 337.5 million euros. Further to this transaction Crédit Agricole owns 80% of Amundi and Societe Generale 20%.

The project is subject to a final agreement between the parties and approval of the relevant regulatory authorities and will be subject to further consultation with representative bodies.

Clifford Chance advises Société Générale with Mathieu Remy (partner) , Sue Palmer ( counsel ) and Marie -Aude Kfouri on corporate aspects , Patrick Hubert (partner) , Katrin Schallenberg ( counsel ) and Mélanie Anglejan Chatillon on the competition aspects , Frédérick Lacroix (partner) and Sébastien Praicheux on regulatory aspects.