July 22, 2019 / 6:39 AM / a month ago

French bank Natixis says there are no talks over possible offer for Coface

FILE PHOTO: The logo of French bank Natixis is seen outside one of their offices in Paris February 18, 2013. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - French bank Natixis (CNAT.PA) said on Monday that it was not in talks over a possible takeover offer for Coface (COFA.PA), 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 (APO.N) had approached Coface with an offer.

Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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