Societe Generale Signs an Agreement With atlantic Financial Group to Sell Its Subsidiary société Générale Guinée
20 Setembro 2024 - 2:30AM
UK Regulatory
Societe Generale Signs an Agreement With atlantic Financial
Group to Sell Its Subsidiary société Générale Guinée
SOCIETE GENERALE SIGNS AN AGREEMENT
WITH ATLANTIC FINANCIAL GROUP TO SELL ITS
SUBSIDIARY SOCIÉTÉ GÉNÉRALE
GUINÉE
Press release
Paris, 20 September 2024
Societe Generale has signed an agreement with
Atlantic Financial Group, a Pan-African banking group, which would
result in the total divestment of Societe Generale group’s shares
(57.93%) in Société Générale Guinée, in Guinea Conakry.
According to the commitments made, Atlantic Financial Group would
take over all activities operated by this subsidiary, as well as
all client portfolios and employees within this entity.
This transaction would have a positive impact of
around 2 basis points on the Group's CET1 ratio, on the expected
completion date which could take place by the end of the first
quarter of 2025. (1)
This divestment project is subject to the usual
conditions precedent and the validation of the relevant financial
and regulatory authorities.
(1) Unaudited figures
Press contacts:
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 more than
126,000 employees serving about 25 million clients in 65 countries
across the world. We have been supporting the development of our
economies for 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.
- Mobility, International Retail
Banking and Financial 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).
For more information, you can follow us on Twitter/X
@societegenerale or visit our website societegenerale.com.
- 24-09-20 [PR] SOCIETE GENERALE SIGNS AN AGREEMENT WITH ATLANTIC
FINANCIAL GROUP TO SELL ITS SUBSIDIARY SOCIÉTÉ GÉNÉRALE GUINÉE
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