Société Générale: acquires Commerzbank's EMC business
(CercleFinance.com) - Société Générale announces the conclusion of an agreement for the acquisition of the "Equity Markets and Commodities" (EMC) business of Commerzbank, outside the German bank's stockbroking and commodity hedging activities.
The transaction includes Commerzbank's investment solutions, flow products and asset management activities worldwide, including associated market-making, sales and structuring capacities.
Société Générale plans to obtain the necessary authorisations to finalise the deal in the second half of 2018. Once the activities are integrated, they would have a positive impact on the group's ROTE and a limited impact on the Core equity Tier One ratio.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The transaction includes Commerzbank's investment solutions, flow products and asset management activities worldwide, including associated market-making, sales and structuring capacities.
Société Générale plans to obtain the necessary authorisations to finalise the deal in the second half of 2018. Once the activities are integrated, they would have a positive impact on the group's ROTE and a limited impact on the Core equity Tier One ratio.
Copyright (c) 2018 CercleFinance.com. All rights reserved.