Amundi Investor Presentation
B
Sabadell
Banco Sabadell: a deal that boosts Amundi's
European leadership, with integration well underway
Overview of the transaction:
21 January 2020: announced a 10-year strategic partnership
with Banco Sabadell and Amundi's plan to acquire 100% of
Sabadell AM1:
-
Sabadell AM is the #5 largest player in Spain with €21bn in
AuM² (exclusively in Retail),
Acquisition price of €430m³
-
-
fully funded by Amundi's existing financial resources
Representing a 2020 PE multiple of ~13x excl. synergies and
~9x incl. synergies
AuM doubled in Spain (fourth largest eurozone market), and
Amundi's leadership in Europe was boosted
30 June 2020: closing of Sabadell AM acquisition
Integration well underway:
Early February 2020: integration projects launched in
cooperation with Banco Sabadell and Sabadell AM
teams
► Q2 2020: Commercial partnership began
First Amundi products (Protect 90) promoted in
the Banco Sabadell network
- Amundi funds included in Banco Sabadell
offers (private banking and retail banking)
Next steps:
Q4 2020: IT system migration (incl. ALTO) expected to
begin
A growth partnership in line with Amundi's strategy
Implementation ahead of schedule
1. Excluding Urquijo Gestion; 2. At 30/09/2020, Sabadell AM AuM and AuA, excl. Urquijo Gestion and third-party funds distributed by Banco Sabadell.
3. Plus an earn-out clause of up to €30m, payable in 2024.
45 Amundi Investor presentation | November 2020
Amundi
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