Generali: halt to negotiations with Natixis
The company's announcement: after more than a year of dialogue, the operation to create a global asset management operator in axis with the French group dies
After FT rumours the confirmation: Generali and Bpce, the parent company of Natixis, have ended negotiations for an alliance in asset management.
This was said by the Lion of Trieste itself in a note that has just been released.
"Following the announcement of 21 January 2025 regarding the signing of a non-binding Memorandum of Understanding ("MoU") for the creation of a joint venture between their respective asset management businesses," the statement reads, "Generali and BPCE conducted in-depth discussions and planned consultations with the relevant stakeholders, in accordance with the processes and governance models of their respective companies. However, at the end of the process, the drop-off point is different from what was initially envisaged: 'Although the work carried out together in recent months has confirmed the merit and industrial value of a partnership, Generali and BPCE have jointly decided to discontinue the consultations - in line with the terms communicated on 15 September - concluding that the conditions for reaching a definitive agreement do not exist'.
The insurance company added: 'Both groups remain committed to the development of a dynamic financial industry, led by globally competitive European champions that contribute to the economic success of the region.
For Generali, the conclusion of the negotiations will have no impact. For this reason, the targets of the strategic plan "Lifetime Partner27: Driving Excellence" are fully confirmed, as already communicated on 13 November during the presentation of the nine-month results.
