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Société Générale — M&A Activity 2012
Aug 30, 2012
1671_iss_2012-08-30_6c09b065-a810-4b41-8dcb-d74931d5e411.pdf
M&A Activity
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Paris, 30 August 2012
Société Générale Group announces that it has received from Qatar National Bank (QNB) an expression of interest in relation to a potential acquisition of its majority stake (77.17%) in National Société Générale Bank (NSGB), its Egyptian subsidiary.
In accordance with Egyptian law, an application has been filed today with the Central Bank of Egypt for the approval of commencement of due diligence on National Société Générale Bank (NSGB).
The discussions are preliminary and there can be no certainty as to whether an agreement will be reached. There will be other announcements in case of further developments.
National Société Générale Bank
National Société Générale Bank, established in Egypt in 1978, an affiliate of Société Générale Group (77.17% stake) is one of the largest private banks operating in the country. NSGB serves more than 700 thousand clients through 4161 banking professionals. NSGB offers a wide range of products serving financial needs of Corporates, medium and small enterprises or individuals with a balanced focus on both Corporate and Retail Banking. NSGB has expanded its network of branches to more than 160 branches covering 24 governorates. Moreover, NSGB keeps enhancing its multi-channel automated tools to reach its clients. NSGB was named Best Bank in Egypt for 2011 by Euromoney.
Key figures of as of end of June 2012, total assets: 63.8 billion EGP, total deposits: 51.7 billion EGP, total loans: 36.3 billion EGP.
PRESS RELATIONS
LAETITIA MAUREL +33(0)1 42 13 88 68 [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] SOCIETE GENERALE COMM/PRS 75886 PARIS CEDEX 18 SOCIETEGENERALE.COM
A FRENCH CORPORATION WITH SHARE CAPITAL OF EUR 975,339,185 552 120 222 RCS PARIS
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Societe Generale
Societe Generale 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. Societe Generale' teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama
- International retail banking, with a presence in Central and Eastern Europe and 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.
Societe Generale is also a significant player in specialised financing and insurance, private banking, asset management and securities services.
Societe Generale is included in the main international socially-responsible investment indices: FTSE4Good, ASPI, DJSI World and DJSI Europe.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com.