BPCE completed the acquisition of such activities from Natixis, for a total price of €2.7bn. This deal will help to fund a multibillion-euro war chest for acquisitions in its remaining asset management and investment banking operations. “In less than 10 years, our teams’ commitment and hard work across the Group have helped us successfully build our universal cooperative banking model based on strong banners that each boast a singular client focus. This planned transaction would mark the start of a new step in Groupe BPCE’s transformation and take us closer to the goals outlined in our TEC 2020 strategic plan as well as in Natixis’ New Dimension plan. It would also help us more effectively address our customers’ needs across the Banques Populaires and Caisses d’Epargne networks, enhance the quality of our products and services, and continue transforming the business lines involved in the deal while also driving their growth. These factors together would set the stage for Natixis to more swiftly implement its asset-light model with its clients and the Group’s two retail networks," Laurent Mignon, BPCE Chairman of Groupe’s.