PARIS, FRANCE: Societe Generale Group has signed two contracts with Saham Group with a view to sell Société Générale Marocaine de Banques including its subsidiaries and La Marocaine Vie. The two Groups also outlined the framework for a long-term business partnership. Societe Generale’s Board of Directors, which met on 11 April 2024 under the chairmanship…
Tag: Societe Generale
Societe Generale to divest equipment financing business to Groupe BPCE for €1.1 billion
PARIS, FRANCE: Societe Generale’s Board of Directors has approved the signing of a Memorandum of Understanding with Groupe BPCE for the divestment of the professional equipment financing businesses operated by Societe Generale Equipment Finance (SGEF). Groupe BPCE would take over most of Societe Generale Equipment Finance activities, which offer tailor-made financing and leasing solutions for…
Societe Generale to cut 900 jobs at its head office in France
PARIS, FRANCE: Societe Generale is planning to reorganise its French head office to make its operations more efficient and simple. The bank is seeking feedback from its staff representatives on this project, which would help it achieve more savings. The reorganisation, which is expected to be completed by the second quarter of 2024, would lead…
Societe Generale to sell its African subsidiaries to Vista Group
OSLO, NORWAY: Societe Generale, a leading European bank, has announced that it will divest its shares in two of its African subsidiaries: Société Générale Burkina Faso and Banco Société Générale Moçambique. The bank has signed two agreements with Vista Group, a pan-African financial services group, to transfer its 52.6% and 65% stakes in the two…
Societe Generale to sell Lyxor to Amundi for EUR 825 million
PARIS: Societe Generale’s Board of Directors approved, during a meeting on 6 April 2021, the entry into exclusive negotiation with Amundi with a view to disposing of the asset management activities operated by Lyxor, a news release said. Lyxor is an entity which includes the Group’s asset management activities and operates in particular through Lyxor…