BPCE:about to acquire SGEF's activities
(CercleFinance.com) - As part of the development of its new strategic plan, as will be announced in June, Groupe BPCE announces the signature of an MoU with Société Générale with a view to acquiring the activities of Société Générale Equipment Finance (SGEF).
One of Europe's leading industrial equipment leasing companies, with 1,600 employees, and present in 25 countries, SGEF's annual production reaches around E6bn for outstanding loans of E15bn. This project will help BPCE in its international growth ambitions, diversify its revenues and strengthen its ability to create value. The acquisition will be carried out at a price of E1.1bn and will impact BPCE's CET1 ratio by around -40bp. Subject to applicable social procedures and the approval of the relevant regulatory and competition authorities, completion of the planned transaction is scheduled for Q1 2025. Copyright (c) 2024 CercleFinance.com. All rights reserved. |
02/05/2024 13:51
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