August 5, 2013 / 1:17 PM / 4 years ago

Natixis sells commods trading arm to GF Securities-spox

PARIS, Aug 5 (Reuters) - Natixis has agreed to sell its commodities trading arm to Chinese brokerage GF Securities, a spokeswoman for the French bank said on Monday.

The move comes as banks are facing increased regulatory scrutiny over an area which was once seen as a fast-growing market but has since emerged as a drag on capital at a time of tougher requirements.

The Financial Times earlier reported the Chinese brokerage paid slightly less than $40 million in cash for the unit. That figure could not immediately be confirmed.

Reporting By Christian Plumb, editing by Astrid Wendlandt

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