Societe Generale Divests Madagascar Subsidiary

Societe Generale (FR:GLE) has released an update.

Societe Generale has entered into a deal to sell its 70% stake in Société Générale Madagasikara to BRED Banque Populaire, including the transfer of all related activities, client portfolios, and employees. The expected transaction is anticipated to slightly enhance the Group’s capital ratio and is pending regulatory approval. Through a diverse set of businesses, Societe Generale continues to focus on sustainable value creation and environmental transition for its clients worldwide.

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