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Société Générale — M&A Activity 2012
Dec 14, 2012
1671_iss_2012-12-14_5df6a773-f462-4d2e-b66d-56d13a1deb96.pdf
M&A Activity
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Paris, 14 December 2012
CLOSING OF THE SALE OF GENIKI BANK TO PIRAEUS BANK
Société Générale finalised today the sale of its entire 99.08% stake1 in its Greek subsidiary Geniki Bank to Piraeus Bank. It marks the successful obtaining of all the required regulatory approvals.
The key financial elements of the transaction remain the same as communicated on 19 October 20122 . The transaction will have no significant impact on the Group's capital ratios.
After having supported Geniki Bank in its role of shareholder, especially during the crisis, the Group has been seeking an alternative strategy for Geniki Bank. Société Générale is confident that the agreement found with Piraeus Bank offers Geniki Bank a new stage in its development.
Notes to editors
1 Specifically, Société Générale sold today a 89.08% stake in Geniki Bank's share capital, following the prior sale of 9.99% in Geniki Bank's share capital to Piraeus Bank on 30 November 2012, the two disposals representing 100% of Société Générale's interest, including Société Générale's advances in capital.
2 Following a closing adjustment, the investment by Société Générale is €460 M, from €444 M announced on 19 October 2012.
PRESS RELATIONS
LAETITIA MAUREL +33(0)1 42 13 88 68 [email protected] HELENE AGABRIEL +33(0)1 41 45 98 33 [email protected]
NATHALIE BOSCHAT +33(0)1 42 14 83 21 [email protected] ASTRID BRUNINI +33(0)1 42 13 68 71 [email protected]
HELENE MAZIER +33(0)1 58 98 72 74 [email protected] SOCIÉTÉ GÉNÉRALE COMM/PRS 75886 PARIS CEDEX 18 SOCIETEGENERALE.COM
A FRENCH CORPORATION WITH SHARE CAPITAL OF EUR 975,339,185 552 120 222 RCS PARIS
Société Générale
Société Générale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Around 160,000 employees, based in 77 countries, accompany more than 33 million clients throughout the world on a daily basis. Société Générale' teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Société Générale branch network, Credit du Nord and Boursorama
- International retail banking, with a presence in Central and Eastern Europe, Russia, in the Mediterranean basin, in Sub-Saharan Africa, in Asia and in the French Overseas Territories
- Corporate and investment banking with a global expertise in investment banking, financing and global markets.
Société Générale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.
Société Générale is included in the socially-responsible investment indices FTSE4Good and ASPI.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com.