Natixis in Connection with the Sale of its Stake in Lazard

June 26, 2014

Cleary Gottlieb represented Natixis in connection with its sale of 6,999,800 shares of Lazard (5.4% of share capital) for an aggregate amount of approximately $356 million. Deutsche Bank Securities acted as sole bookrunner for the transaction. The offering priced on June 26, 2014 and closed on July 1, 2014.

Natixis is the wholesale banking, investment management and specialized financial services arm of the Groupe BPCE, a leading French mutual banking group that includes two French retail banking networks, and a number of entities that are affiliates of BPCE, including Natixis. The sale of the Lazard stake forms part of Natixis’ broader “New Frontier” strategic plan being implemented over the 2014-2017 period. Following the completion of the offering, Natixis will no longer hold any of Lazard’s shares.