Italian-headquartered insurer Generali and banking group BPCE have jointly decided to terminate negotiations related to the establishment of a joint venture in asset management.
Following that announcement, the two companies carried out extensive discussions and the applicable consultation processes with relevant stakeholders, in line with the respective parties’ processes and governance frameworks.
Although the work undertaken in recent months reportedly confirmed the merits and industrial value of a partnership, Generali and BPCE have jointly taken the decision to end negotiations.
The termination is in line with the terms communicated on 15th September, concluding that the conditions required to reach a final agreement are not currently present.
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