On November 22, 2022, AllianceBernstein and Societe Generale announced plans to form a joint venture.
Under the terms of the transaction, AllianceBernstein and Societe Generale will form a joint venture that combines their cash equities and equity research businesses. Societe Generale will take a 51% interest in the joint venture, with an option to reach 100% ownership after five years.
AllianceBernstein, based in Nashville, Tennessee, is an investment management firm that works with institutional investors, individuals, and families. AllianceBernstein had $627 billion in assets under management as of September 2022.
Societe Generale, based in Paris, is a European bank. Societe Generale has approximately $1.6 trillion in client assets under management. Ardea Partners served as financial advisor on the transaction.
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