Societe Generale acquires Commerzbank’s EMC 10 July 2018Paris Reporter: Maddie Saghir
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Societe Generale has reached an agreement to acquire Commerzbank’s Equity Markets and Commodities business (EMC).
In the transaction, Societe Generale will also acquire Commerzbank’s investment products, flow products, and asset management business worldwide.
This includes associated market making, sales, and structuring capabilities.
The activities in the scope of this transaction are based in Frankfurt, London, Hong Kong, Paris, Luxembourg, and Zurich.
Séverin Cabannes, deputy CEO, commented: “Societe Generale and Commerzbank’s EMC franchises are complementary and present an important potential of synergies.”
“This acquisition would further reinforce our global banking and investor solutions activities in line with our 2016-2020 strategic plan.”
He continued: “In addition, while complementing Lyxor’s ETF franchise, this acquisition would be transformational for our activities in Germany as it would enable Societe Generale to reach a new scale in the leading Eurozone economy.”
Cabannes added: “Upon integration, this transaction would bring numerous benefits to clients: the reach and geographical footprint, an extended cross-asset product set, the technology and expertise from two associated leading platforms.”
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