Italy-based insurance company Generali and BPCE banking group have jointly decided to terminate negotiations to establish an asset management joint venture.
On January 21, 2025, Generali and BPCE signed a non-binding memorandum of understanding (MoU) to create a joint venture between their respective asset management businesses.
Following the announcement, both companies engaged in extensive discussions and applicable consultation processes with relevant stakeholders in accordance with their respective processes and governance frameworks.
Although work reportedly carried out in recent months has confirmed the merits and industrial value of the partnership, Generali and BPCE have jointly decided to end negotiations.
The termination is in line with the terms communicated on September 15, concluding that the conditions necessary to reach a final agreement do not currently exist.
