In a press release dated June 12, the government of the Republic of Congo declared that it would not recognize the sale by Société Générale of its national subsidiary to Vista Group, as the bank did not grant it pre-emptive rights.

The Republic of Congo rejects the sale of Societe Generale's subsidiary to Vista Group. The Congolese Ministry of Finance said in a statement dated June 12 that it was surprised by the announcement of the sale by Société Générale of some of its subsidiaries in Africa, including in the Republic of Congo. “The Congolese State firmly denounces this move and considers the agreement of the Société Générale group to sell its stake in the Vista group to be void,” the finance ministry said in a statement, adding that it does not rule out the use of a legal remedy against Société

SocGen said on June 8 that it had reached an agreement to sell its subsidiaries in Congo Brazzaville and Equatorial Guinea to Vista Group for an undisclosed amount. The bank owned 93.5% of Société Générale du Congo