July 17, 2020 / 3:23 PM / a month ago

Natixis owner BPCE has explored buying rest of French bank - FT

July 17 (Reuters) - French co-operative lender BPCE has explored buying the 30% of Natixis SA it does not already own, the Financial Times reported on Friday, citing people briefed on the situation.

BPCE, which is unlisted, had worked with advisers on a buyout plan in recent months, the report on.ft.com/3fDx3FV said.

The deal was at an early stage, the FT report said, adding that other options were also being considered and there was no guarantee that a bid for Natixis shares would occur.

BPCE did not immediately respond to a Reuters request for comment, while Natixis declined to comment.

Natixis is planning to restructure its business and will merge its commodities and infrastructure operations to focus on clean energy, Reuters reported on Thursday, citing sources. The move has been accelerated by a series of loss-making loans to oil traders. (Reporting by Aakriti Bhalla in Bengaluru and Maya Nikolaeva in Paris; Editing by Maju Samuel)

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