Natixis discussing acquisition of AXA IM; JPMorgan and Goldman Sachs advising
AXA [EPA:CS], the French insurer, is understood to be discussing with French financial services group Natixis [EPA:KN], the future of its AXA Investment Management (AXA IM) division, French daily Les Echos reported.
Natixis is a part of the BPCE banking group.
The report cited several sources as saying that the two companies could combine their asset management units, with Natixis taking control and running the combined entity.
Discussions are believed to be at an advanced stage though no exclusivity agreement appears to have been signed yet, the report added.
Negotiations with Deutsche Bank Asset Management also took place but are not believed to have gone as far as the discussions with Natixis, the sources cliamed. The report noted that Deutsche Bank AM is headed by Nicoals Moreau, the former head of AXA in France.
According to the sources, Naxtis is being assisted by Goldman Sachs while Axa and AXA Im have mandated JPMorgan to conduct the talks.
AXA IM manages assets worth EUR 750bn, compared with EUR 835bn for Natixis.