Amundi US would be merged with Victory Capital in exchange for Amundi taking a 26.1% stake in Victory Capital, with no cash payment, the company said in a statement.
"The proposed transaction with Victory Capital is a unique opportunity to strengthen our presence in the United States, while becoming a strategic shareholder in a reputable US asset management company," said Amundi CEO Valérie Baudson in a statement.
(Report Sudip Kar-Gupta, written by Augustin Turpin, edited by Blandine Hénault)