French bank Natixis said on Monday that it was not in talks over a possible takeover offer for Coface, the credit insurance subsidiary in which Natixis has a stake of around 41.7%.
“Natixis states that, as previously indicated, its investment in Coface is financial in nature and not strategic. In this context, Natixis regularly explores options for its holding in this asset,” Natixis said in a statement.
“Nonetheless, there is currently no discussion underway likely to give rise to the submission of an offer for this holding,” added Natixis.
Reuters reported on Friday that Apollo Global Management had approached Coface with an offer.
(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)
Topics France
Was this article valuable?
Here are more articles you may enjoy.
Experian Launches Insurance Marketplace App on ChatGPT 
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Munich Re Unit to Cut 1,000 Positions as AI Takes Over Jobs 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
