Natixis confirms the sale of its stake in Lazard
Natixis confirms the sale on June 26, 2014 of all its shares of Lazard, for an amount of c.$356m, i.e. 5.4% of the total capital of Lazard.
Deutsche Bank Securities acted as sole bookrunner in the transaction.
This sale is in line with Natixis’ dynamic core business asset allocation policy part of the 2014-2017 strategic plan, and is a continuation of the actions carried out since 2009.
Natixis and Lazard reaffirm their willingness to pursue a long term and fruitful relationship regarding French equity capital markets activities and in that regard are pursuing their cooperation agreement. Laurent Mignon will remain on the Lazard Board as an independent director.
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Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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