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Natixis sells 5.4 pct Lazard stake for $356 mln
June 26, 2014 / 3:20 PM / 3 years ago

Natixis sells 5.4 pct Lazard stake for $356 mln

PARIS, June 26 (Reuters) - French bank Natixis said it sold its entire 5.4 percent stake in investment bank and asset manager Lazard Ltd on Thursday for $356 million as part of its 2014-17 strategic plan.

Natixis said it would pursue a long-term relationship with Lazard regarding “French equity capital markets activities” and continue their cooperation agreement after the disposal.

Natixis added in a statement that its chief executive, Laurent Mignon, would remain on the Lazard board as an independent director.

Deutsche Bank Securities acted as sole bookrunner in the transaction. (Reporting by James Regan; Editing by Blaise Robinson)

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