Societe Generale (FR:GLE) has released an update.
Societe Generale is set to fully divest its 93.43% stake in Société Générale Bénin, including related branches, with the State of Benin taking over all operations, client portfolios, and employees. The transaction is expected to slightly improve the Group’s capital ratio but will also result in a negative impact of around EUR -25 million on Q3 2024 earnings, subject to regulatory and financial authority approvals.
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