BPCE and Generali jointly agree to end negotiations related to the establishment of a Joint Venture in Asset Management

Paris-Milan - Following the announcement on 21 January 2025 of the signature of a non-binding Memorandum of Understanding (“MoU”) to create a joint venture between their respective asset management operations, Generali and BPCE carried out extensive discussions and applicable consultation processes with relevant stakeholders, in line with the respective parties’ processes and governance frameworks.

While the work conducted together in recent months confirmed the merits and industrial value of a partnership, Generali and BPCE have jointly taken the decision to terminate negotiations, in line with the terms communicated on 15 September, concluding that the conditions to reach a final agreement are not currently present.

Both groups maintain their commitment to the development of a thriving financial industry with globally competitive European champions contributing to the region’s economic success.