LCL is acquiring the entire Milleis Group to enhance its wealth management position while Crédit Agricole Assurances will subsequently acquire Milleis Vie.

Target Information

The deal involves the acquisition of the entire Milleis Group by LCL, which includes Milleis Banque and its subsidiaries, Milleis Vie and Cholet Dupont Oudart. Following this acquisition, LCL plans to transfer Milleis Vie to Crédit Agricole Assurances. This strategic move aims to enhance LCL's position in the wealth management market in France while creating potential synergies within the group.

Furthermore, the acquisition presents an opportunity for Crédit Agricole Assurances to strengthen its subsidiary, Spirica, in the premium segment and broaden its distribution channels. This synergistic approach could lead to enhanced service offerings and improved market competitiveness for both institutions.

Industry Overview

The wealth management industry in France has shown robust growth, fueled by rising affluence and a growing demand for tailored financial services. As individuals seek to manage their wealth eff