PARIS (dpa-AFX) - Tuesday, Societe Generale SA (SCGLF.PK) signed a deal with the State of Cameroon to sell its subsidiary Société Générale Cameroun, bringing the latter's total stake to 83.68 percent. The financial details of the deal were not disclosed.
As per the deal, 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.
The transaction, expected to close by 2025 end, would have a positive impact of around 6 basis points on the group's CET1 ratio.
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