Natixis Deals Finance Units To Parent Co. In $3.1B Exchange

Law360 (September 12, 2018, 8:13 PM EDT) -- French banking firm Natixis SA said Wednesday it will sell off several of its finance services units to parent company Groupe BPCE in a €2.7 billion ($3.1 billion) deal, as the company looks to streamline its approach and provide greater focus to existing product lines.

Under the terms of the deal — approved by Natixis' board of directors and members of the BPCE SA Supervisory Board — BPCE will take over the company's consumer financing, factoring, leasing, sureties and guarantees, and securities services businesses. Natixis noted that it will continue to work with BPCE but focus more on current offerings, namely...

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