Societe Generale has signed a memorandum of understanding with groupe BPCE with a view to sell Societe Generale Equipment Finance's activities [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
Press release Paris, 11 April 2024 at 7:15 am Societe Generale's Board of Directors, which met on 10 April 2024 under the chairmanship of Lorenzo Bini Smaghi, has approved the signing of a Memorandum of Understanding with Groupe BPCE for the divestment of the professional equipment financing businesses operated by Societe Generale Equipment Finance (SGEF)*. Groupe BPCE would take over most of Societe Generale Equipment Finance's* activities, which offer tailor-made financing and leasing solutions for distributors, traders, manufacturers and companies. SGEF deploys its expertise internationally in the transport, industrial equipment, technology, medical and renewable energy sectors. The outstanding loans of the businesses covered by the Memorandum of Understanding amount to almost €15 billion at the end of December 2023, i.e. around €8 billion in risk-weighted assets (RWA). This divestment project would mark an important step in the execution of Societe Generale's strategic ro
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