NATIXIS finalizes the sale of 35% of CACEIS
Today, Natixis finalized the sale of 35% of the share capital of CACEIS to Crédit Agricole S.A. for a cash consideration of €595 million. The transaction received all the required regulatory approvals within the timeframe initially set.
The divestment is part of the strategic refocus announced and implemented by Natixis since mid-2008. Natixis is retaining a 15% stake in CACEIS in order to keep providing its institutional clients with best of class services.
The disposal of the CACEIS’ stake further strengthens Natixis’ solvency (a Tier 1 ratio of around 0.4% based on March 31, 2009 figures).
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About Groupe BPCE
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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