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CORRECTED-Natixis sells commods brokerage to GF Securities-spox
August 5, 2013 / 1:57 PM / 4 years ago

CORRECTED-Natixis sells commods brokerage to GF Securities-spox

(Corrects to show that London-based commodities brokerage, not entire commodities trading arm, being sold)

PARIS, Aug 5 (Reuters) - Natixis has agreed to sell its London-based commodities brokerage 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 and Tom Pfeiffer)

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