Societe Generale group has agreed to sell the entire stake of Boursorama in Onvista AG to Comdirect Bank AG
Societe Generale Group, through Boursorama, has agreed to sell the entire stake of Boursorama in Onvista AG, its German subsidiary, to Comdirect bank AG.
The sale is expected to close before end of H1 2017, following completion of the necessary regulatory authorizations.
This transaction will have a limited positive impact on Societe Generale Group’s financial ratios.
This withdrawal is part of Societe Generale Group continuous effort to simplify its setup and to focus on its core and profitable businesses bringing synergies within the Group.
Societe Generale Group remains strongly committed to the German market notably through its corporate and investment banking, specialised financing and consumer finance platforms and will also pursue the further development of Boursorama, its leading online banking subsidiary in France.
Laetitia Maurel, Laetitia.firstname.lastname@example.org +33 1 42 13 88 68