0915 GMT - Amundi's new long-term partnership with the U.K.'s ICG is intelligently structured, Jefferies says in a note after the French asset manager outlined its three-year targets and a surprise distribution plan. Under the deal, Amundi will also take a nearly 10% stake in ICG through a transaction that avoids shareholder dilution. "A private markets partnership was an obvious gap for Amundi, so this agreement certainly fills that gap and ICG is an [alternatives firm with] a notable French nexus," analysts write. The announcements, along with the renewal of its partnership with Societe Generale and the IPO of its joint venture with State Bank of India, put the group back on the front foot, they add. Shares fall 2.6% while ICG's rise 9.3%. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

November 18, 2025 04:15 ET (09:15 GMT)

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