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Societe Generale: the group intends to sell its majority shares in its subsidiaries in 4 countries

12/06/2023
Source : ORISHAS FINANCE
Categories: Companies

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On Thursday 8 June, Société Générale announced that it had reached an agreement with two African banking groups to sell its subsidiaries in Congo, Equatorial Guinea to the Vista group, and in Mauritania and Chad to the Coris group.

Dans un communiqué, la Banque indique que les termes de l' accord signé par la Société générale, mentionnent que les deux groupes bancaires “reprendraient la totalité des activités opérées par Société Générale in Congo, Equatorial Guinea, Mauritania and Chad, as well as all client portfolios and all employees within these entities.” The divestments are probably scheduled for the end of the year. The Societe Generale group style="font-family: "Bookman Old Style”, "serif"> says it wants to “concentrate its resources on markets where it can position itself among the leading banks, in synergy with the group's other jobs.” This divestiture policy may not end there.

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