Societe Generale Sells PEMA Truck and Trailer Rental Company
26 July 2019 - 4:48PM
Dow Jones News
By Pietro Lombardi
Societe Generale SA (GLE.FR) has agreed to sell its
truck-and-trailer rental company PEMA GmbH to TIP Trailer Services,
which is part of the portfolio of infrastructure investment manager
I Squared Capital.
The deal will have a negative impact on the French bank's
second-quarter results of 43 million euros ($47.9 million) and add
2 basis points to its core Tier 1 ratio.
SocGen expects the transaction, which is subject to antitrust
approval, to be completed in coming months.
"This transaction illustrates the dynamic management of the
Group's business portfolio and is another step in the execution of
its refocusing program," Deputy Chief Executive Philippe Heim
said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
July 26, 2019 02:33 ET (06:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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