PARIS (Reuters) – French bank Natixis (CNAT.PA) (CNAT.PA) confirmed plans to sell its domestic private-equity activities to AXA Private Equity, valuing the portfolio at 534 million euros ($746.5 million).
There would also be future earn-out payments as part of the deal based on the funds’ performance and new investments, the French bank said in a statement on Tuesday.
The plan is not yet definitive and will shortly be presented to worker representatives and the board of Natixis Private Equity, Natixis added.
Back in February, Natixis said it had received an offer from AXA (AXAF.PA) valuing the portfolio at 507 million euros. (Editing by David Holmes) ($1=.7153 Euro)