Belgium's Belfius Bank to Acquire 33% Stake in Candriam in Asset Management Expansion

Belfius Bank, Belgium's state-owned lender, has agreed to acquire a 33% stake in Candriam, a European asset management firm. The transaction remains subject to regulatory approval and customary closing conditions.

Candriam is a multi-specialist asset manager with strategies in fixed income, equities, alternatives and sustainable investment.

DEAL CONTEXT

Belfius called the Candriam stake a key milestone in its ambition to become the leading private bank in Belgium.

Candriam remains a New York Life Investments company.