Natixis Global Asset Management is preparing to pay the equivalent of 5.3% of underlying assets to take control of French boutique DNCA Finance – a price that a counter-bidder said was high, but investment bankers said was in line with prices paid for rival firms in continental Europe.

In a statement released today, Natixis Global said it could pay €549 million in cash for 71% of the business, currently owned by US private equity firm TA Associates, Banca Leonardo of Italy and DNCA's management. Natixis Global said this purchase was equivalent to 3.9% of assets worth nearly €14.6 billion.