“We are delighted with this agreement with the shareholders of Degroof Peterc, a historical leader in wealth management. This alliance project will represent an important step for our development in Europe in line with our strategic plan and will make Belgium our second home market,” commented the managing director of the Indosuez Wealth Management group, Jacques Prost.
This Friday morning, in a press release, Indosuez Wealth Management confirms that it has signed an agreement to acquire a majority stake in Degroof Petercam, a leading asset management company in Belgium and a leading investment house with an international presence and clientele. , with 71 billion euros of assets under management. Following this acquisition of the majority stake, a voluntary public takeover bid will be launched among the minority shareholders of Degroof Peterc with the intention that CA Indosuez Wealth (Europe) will acquire the entire remaining capital under the same conditions as for the acquisition of the majority stake.
A reference shareholder of CLdN since 2011 after deciding to retain around 20%, “the Indosuez Wealth Management group would gain access to a new client base in Belgium and internationally. It would expand its expertise in financial management consulting and fund offerings, especially ESG, capitalizing on the expertise of Degroof Petercam Asset Management (DPAM) and investment banking activities. This project would also enable the Crédit Agricole Group to significantly strengthen its presence in Belgium and to expect significant synergies with the Group’s various businesses thus strengthened in the Benelux zone.
The transaction, which still needs to be confirmed by the authorities, should be finalized in 2024. With 130 billion in assets under management, Indosuez Wealth Management employs almost 3,000 employees in 10 territories around the world: in Europe (Belgium, Spain, France, Italy, Luxembourg (400), Monaco and Switzerland), Asia-Pacific (Hong Kong, New Caledonia and Singapore) and the Middle East (United Arab Emirates). For its part, Degroof Petercam has 1,500 experts in Belgium (head office), Luxembourg (430 people), France, Switzerland, Spain, the Netherlands, Germany, Italy and Hong Kong.