LCL and Crédit Agricole Assurances have entered into exclusive negotiations with AnaCap for the joint acquisition of Milleis Group, a prominent independent entity in private banking and wealth management in France. Through this collaboration, LCL aims to acquire the entire Milleis Group, including Milleis Banque and its subsidiaries, with an immediate plan to transfer the life insurance arm, Milleis Vie, to Crédit Agricole Assurances. This strategic move is expected to bolster LCL's standing in the French wealth management sector and enhance Crédit Agricole Assurances' capabilities in the high net worth segment. The transaction is anticipated to be completed in the first half of 2026, pending regulatory approvals and consultations with employee representatives.
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