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).