Caisse d'Epargne to set up new property fund

Natixis, the corporate and investment banking venture between two French lenders, Groupe Caisse d'Epargne and Groupe Banque Populaire, may spend more than EUR 2 bn on acquisitions, chairman Charles Milhaud told daily Les Echos in an interview.

Caisse d'Epargne wants to create a real-estate unit that could be publicly traded and able to expand in other European countries, he said. The bank is in talks with numerous real- estate companies, Milhaud added.

Caisse d'Epargne has changed its rules and postponed the retirement age to 68, giving Milhaud the possibility to complete his mandate which runs until December 2009, Les Echos said.