Credit Agricole Assurances is being counseled to initiate exclusive negotiations with AnaCap, aiming at a joint purchase with LCL of the Milleis Group.
Credit Agricole Assurances and LCL to Acquire Milleis Group in Joint Venture
Credit Agricole Assurances and LCL, subsidiaries of Crédit Agricole, have entered exclusive negotiations with AnaCap for the joint acquisition of Milleis Group, a significant player in French private banking and wealth management with €12.6 billion in assets under management. The transaction, expected to be completed in the first half of 2026, aims to strengthen Credit Agricole's position in the European wealth management market by leveraging Milleis's expertise in high-net-worth client services and digital advisory models.
Norton Rose Fulbright, a global law firm, is advising Credit Agricole Assurances on this strategic move. The team in Paris, led by partners Bénédicte Denis and Jean-Claude Rivalland, is providing corporate M&A counsel, supported by experts in tax, employment, and competition law. The acquisition process will include consultations with employee representatives and remain subject to regulatory approvals and other usual conditions precedent.
Alexandra Bloch-Manikow, Marie-Thérèse Eugenio, Constance Chevreste, and Geoffroy Coulouvrat are among the Norton Rose Fulbright team members contributing to the transaction's tax law, employment law, competition law, and technology and intellectual property law aspects respectively. Marie-Adélaïde de Fleurieu, counsel, and Inès Azouaou worked on the corporate side of the transaction, while Simon Lazzari and Pierre Bourcier de Saint-Chaffray handled regulatory aspects. Antoine Colonna, partner and Head of the EMEA Tax practice, Laure Joncour, partner in employment law, and Marta Giner Asins, partner in competition law, are also participating in the transaction.
Milleis Group is an independent player in private banking and wealth management in France, known for serving high-net-worth and ultra-high-net-worth clients with a hybrid advisory model. The potential acquisition is expected to create a comprehensive wealth management "one-stop shop," expanding Credit Agricole's wealth management offerings, enhancing digital and personalized client services, and consolidating its position in the European market.
Lise Betro, Marketing and Communications Executive at PABD, provided contact information for further inquiries, with a contact number of 331 5659 5214. However, it is not clear if PABD is involved in the acquisition.
[1] Credit Agricole Assurances and LCL Enter Exclusive Negotiations for Milleis Group Acquisition [2] Norton Rose Fulbright Advises Credit Agricole Assurances on Milleis Group Acquisition [3] Milleis Group: A Strategic Acquisition for Credit Agricole Assurances and LCL [4] Strengthening Credit Agricole's Position in European Wealth Management Market with Milleis Group Acquisition [5] Legal Counsel Appointed for Credit Agricole Assurances and LCL's Milleis Group Acquisition
- The joint acquisition of Milleis Group by Credit Agricole Assurances and LCL is a strategic move that will likely impact the finance industry, as it aims to strengthen their position in the European wealth management market through Milleis's expertise in high-net-worth client services and digital advisory models.
- Norton Rose Fulbright, a global law firm, is providing legal counsel to Credit Agricole Assurances in this business transaction, with a team of experts offering advice on various fields such as tax, employment, competition law, technology and intellectual property law, to ensure a successful acquisition in the finance sector.
