French Bank Natixis Denies Reports of Takeover Talks for Credit Insurance Unit Coface

French bank Natixis said on Monday that it was not in talks over a possible takeover offer for Coface, the credit insurance subsidiary in which Natixis has a stake of around 41.7%.

“Natixis states that, as previously indicated, its investment in Coface is financial in nature and not strategic. In this context, Natixis regularly explores options for its holding in this asset,” Natixis said in a statement.

“Nonetheless, there is currently no discussion underway likely to give rise to the submission of an offer for this holding,” added Natixis.

Reuters reported on Friday that Apollo Global Management had approached Coface with an offer.

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)