Societe Generale signs agreements to sell two subsidiaries in Africa to Vista group
07 December 2023 - 6:02PM
Societe Generale signs agreements to sell two subsidiaries in
Africa to Vista group
SOCIETE GENERALE SIGNS AGREEMENTS TO SELL TWO
SUBSIDIARIES IN AFRICA TO VISTA GROUP
Press releaseParis, 7 December 2023
Societe Generale has signed two agreements with Vista Group
which plan the total divestment of Societe Generale group’s shares
in its local African subsidiaries: Société Générale
Burkina Faso and Banco Société Générale Moçambique, currently owned
at 52.6% and 65% respectively. According to the commitments made,
the Vista Group would take over all activities operated by these
subsidiaries, as well as all Societe Generale's client portfolios
and all employees within these entities.
The completion of these transactions, which
could take place in 2024, is subject to the approval of the
entities’ governance bodies, the usual conditions precedent and the
validation of the relevant financial and regulatory
authorities.
Press contact : Jean-Baptiste
Froville_+33 1 58 98 68 00_
jean-baptiste.froville@socgen.com Amandine
Grison_+33 1 41 45 92 40_
amandine.grison@socgen.com
Societe Generale
Societe Generale is a top tier European Bank with 117,000
employees serving 25 million clients in more than 60 countries
across the world. We have been supporting the development of our
economies for nearly 160 years, providing our corporate,
institutional, and individual clients with a wide array of
value-added advisory and financial solutions. Our long-lasting and
trusted relationships with the clients, our cutting-edge expertise,
our unique innovation, our ESG capabilities and leading franchises
are part of our DNA and serve our most essential objective - to
deliver sustainable value creation for all our stakeholders.The
Group runs three complementary sets of businesses, embedding ESG
offerings for all its clients:
- French Retail, Private Banking
and Insurance, with leading retail bank SG and insurance
franchise, premium private banking services, and the leading
digital Bank BoursoBank.
- Global Banking and Investor
Solutions, a top tier wholesale bank offering
tailored-made solutions with distinctive global leadership in
Equity Derivatives, Structured Finance and ESG.
- International Retail, Mobility
& Leasing Services, comprising well-established
universal banks (in Czech Republic, Romania and several African
countries), Ayvens (the new ALD I LeasePlan brand), a global player
in sustainable mobility, as well as specialized financing
activities.
Committed to building together with its clients a better and
sustainable future, Societe Generale aims to be a leading partner
in the environmental transition and sustainability overall. The
Group is included in the principal socially responsible investment
indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg
Gender-Equality Index, Refinitiv Diversity and Inclusion Index,
Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders
indexes, and the MSCI Low Carbon Leaders Index (World and
Europe).
In case of doubt regarding the authenticity of this press
release, please go to the end of the Group News page on
societegenerale.com website where official Press Releases sent by
Societe Generale can be certified using blockchain technology. A
link will allow you to check the document’s legitimacy directly on
the web page.
For more information, you can follow us on Twitter/X
@societegenerale or visit our website societegenerale.com.
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