Societe Generale signs an agreement with the State of Cameroon to sell its subsidiary Société Générale Cameroun
Societe Generale has signed an agreement with the State of Cameroon which provides for the total sale of the group’s shares (58.08%) in Société Générale Cameroun. The State of Cameroon, already a shareholder, would thus hold 83.68% of the shares of Société Générale Cameroun. According to the commitments made, the State of Cameroon would take over all the activities operated by this subsidiary, as well as all the client portfolios and all the employees of this entity.
This transaction would have a positive impact of around 6 basis points on the Group's CET1 ratio, on the expected completion date which could take place by the end 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
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