Sources familiar with deal were quoted by Financial Times as saying that the transaction, which did not include some client-based commodities trading activities at Natixis, has been agreed for approximately less than $40m in cash.
The deal comes at a time when Chinese financial regulators are likely to ease capital control regulations, enabling domestic financial organizations to enhance their participation in the global markets.
A source was quoted by the news agency as saying, "Clearly there are advances being made in the regulatory environment within China that perhaps mean you will see more business coming out of china into European and US markets."
"You are better placed if you have a foot in both camps," the source added.
In 2012, the lender was forced by the liquidity crisis in the French banking sector to consider shutting down the business, which included its LME and other exchange-traded commodity broking activities.
Most recently, the bank announced that it is seriously planning to axe approximately 500 to 700 employees with an aim to bring the banking operation on the right track.
