Made to measure

11 October 2018 By Liam Proud Follow @liamwardproud

The French investment bank may merge its small payments arm with $4.5 bln compatriot Ingenico. That could help its lowly valuation since the sector is rated more highly by investors. Yet struggling Ingenico, whose shares have plummeted on growth concerns, looks an odd partner.

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French bank Natixis on Oct. 11 said it was examining a merger of its payments activities with Ingenico.

Payments company Ingenico has a current market capitalisation of around 4 billion euros ($4.6 billion), while Natixis - which is the corporate banking arm of French bank BPCE - is currently valued at 18 billion euros.

“Natixis confirms having an interest in exploring the rationale of a possible industrial combination of Natixis’ payment activities with Ingenico Group and its businesses and having preliminary discussions in this respect,” said Natixis.

Ingenico said it had received preliminary approaches for "a strategic transaction" and had initiated a review of its options.

Natixis shares were down 3.4 percent to 5.4 euros at 0745 GMT on Oct. 11. Ingenico shares were up 12.6 percent to 70.8 euros.

Context News

French bank Natixis on Oct. 11 said it was examining a merger of its payments activities with Ingenico.

Ingenico said it had received preliminary approaches for "a strategic transaction" and had initiated a review of its options.

Natixis shares were down 3.4 percent to 5.4 euros at 0745 GMT on Oct. 11. Ingenico shares were up 12.6 percent to 70.8 euros.

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