Natixis finalized the acquisition of Cicobail
On December 31, 2010, Natixis finalized the acquisition of 99.91% of the capital of Cicobail from Crédit Foncier de France, Banque Palatine and Eurosic via its Natixis Lease subsidiary in line with the schedule announced on September 17, 2010.
The transaction is designed to further the implementation of Groupe BPCE’s 2010-2013 strategic plan, “Ensemble” [Together]. One aspect of the plan is to house all of Groupe BPCE’s leasing activities under Natixis.
Natixis Lease’s position as a leading player in the French leasing market is further strengthened with assets of €6.5 billion and a production in 2010 of €1.152 billion.
The transaction will not have a significant impact on Natixis’ solvency ratio.