SocGen Enters Exclusive Talks With My Money Bank to Buy Socalfi
19 July 2019 - 2:43AM
Dow Jones News
By Pietro Lombardi
Societe Generale SA (GLE.FR) has entered into exclusive talks
with My Money Bank to buy Socalfi, the French bank said
Thursday.
Socalfi, which has 26 employees, is a subsidiary of My Money
Bank in New Caledonia, where SocGen is present through its
subsidiary Societe Generale Caledonienne de Banque.
"This acquisition project would allow SGCB to strengthen its
local positions in the markets of consumer credit and equipment
finance, which benefit from profitable growth potential," it
said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
July 18, 2019 12:28 ET (16:28 GMT)
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