Dexia, the Franco-Belgian financial group, who announced few weeks ago to be strong enough to stay independent by the end of 2010 is now planning to sell a French life insurance unit.
“The group will at the end of 2010 have a profitability and balance sheet that will allow it to pursue its autonomy,” Chief Executive Pierre Mariani said.
The unit in question is Dexia Epargne Pension. Dexia declined to comment on the matter.
French business newspaper La Tribune reported earlier on Tuesday that Swiss Life, Suravenir and French bank Credit Mutuel were interested in buying Dexia Epargne Pension.
La Tribune added that Dexia Epargne Pension could be sold for between 100 million and 120 million euros ($146-$176 million).
Source : News-Insurances with Reuters
