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Report: Natixis seeks to sell Dubai Group's stakes in EFG-Hermes, Bank Muscat

May 13, 2016 - SNL European Financials Daily

Natixis is looking for buyers for Dubai Group's approximately 12% stakes in EFG-Hermes Holding SAE and Bank Muscat SAOG, Bloomberg News reported May 12, citing sources.

Dubai Group signed a debt restructuring deal with a number of lenders in 2014, including Natixis, giving the French lender the right to sell the stakes if Dubai Group did not repay a $1.1 billion loan by March-end. Natixis is working with U.S.-based Moelis & Co. to find buyers for those stakes, according to the sources. The...