BPCE: plans to buy businesses from Natixis
(CercleFinance.com) - BPCE group is considering simplifying its organisation by integrating, into BPCE SA, the factoring, securities & guarantees, leasing, consumer credit and (market) securities businesses.
BPCE SA is hence contemplating acquiring these businesses from Natixis for a total of 2.7 billion euros.
"If finalized, the intended transaction will significantly contribute towards Groupe BPCE and Natixis' ambitions laid out in their respective TEC 2020 and New Dimension strategic plans which targets are reviewed upwards on this occasion (Natixis 2020 RoTE target of 14-15.5%(1) vs. 13-14.5% previously)." it said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.