Société Générale: about to sell subsidiary in Guinea

(CercleFinance.com) - Societe Generale announces that it has signed an agreement with Atlantic Financial Group, a pan-African banking group, for the sale of the French group's entire stake (57.
93%) in Societe Generale Guinea, in Guinea Conakry.

Under the terms of the agreement, Atlantic Financial Group will take over all the activities operated by this subsidiary, as well as all the customer portfolios and all the employees of this entity.

The transaction would have a positive impact of around two basis points on the CET1 ratio on completion, expected by the end of the first quarter of 2025, subject to the usual conditions precedent and to financial and regulatory approvals.


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