Natixis Investment Managers is reviewing the proposed divestment of its holding in H2O Asset Management following exchanges with regulatory authorities.
The money manager said in a notice on its website that, further to conversations with regulators relating to its proposed sale, "Natixis IM and H2O AM are working towards amending the proposed transaction with a view to completing the unwinding of their partnership while ensuring an orderly transition in the interest of H2O AM investors."
The market will be kept informed of the new timetable for the divestment, the notice added.
Natixis said in January that it would sell its 50.01% stake in London-based global macro manager H2O AM back to the firm's management team.
H2O AM had about €18 billion ($21.1 billion) in assets under management as of March 31. Natixis IM had €1.2 trillion excluding H2O's AUM as of that date.
Talks to sell the stake began late last year. H2O AM suspended trading on some of its strategies last year over valuation concerns related to a relationship with German financier Lars Windhorst. The French regulator then pressured the firm to freeze a series of funds containing the securities.
A spokeswoman for Natixis declined to comment beyond the information provided in the notice. The previous timetable for the sale was not available.
Bloomberg contributed to this report.
