Major European digital asset manager CoinShares is finalizing the acquisition of the French fintech firm Napoleon Group despite the ongoing market decline.
CoinShares announced on July 4 that the firm has acquired Napoleon Asset Management, a digital asset management subsidiary of Napoleon Group.
CoinShares previously entered into a sale and purchase agreement (SPA) to acquire the entire issued share capital in Napoleon Crypto SAS for 13.9 million euros ($14.5 million) in November 2021.
The latest acquisition came shortly after the French financial regulator, Autorité des Marchés Financiers (AMF), authorized the acquisition of Napoleon AM on June 28. CoinShares subsequently proceeded with the transaction pursuant to the terms set out in the group SPA on June 2022.
Paris-based Napoleon AM was launched after completing an Initial Coin Offering (ICO) in late 2018, raising over $10 million through the sale of NPX tokens. The firm has received the Alternative Investment Fund Manager...
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