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Société Générale sells its Moroccan subsidiary to a Moroccan holding company for 745 million euros

The banking group Société Générale announced on Friday that it had signed a contract for 745 million euros to sell its shares in Société Générale Maroc to the Moroccan holding company Saham.

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Société Générale sells its Moroccan subsidiary to a Moroccan holding company for 745 million euros

The banking group Société Générale announced on Friday that it had signed a contract for 745 million euros to sell its shares in Société Générale Maroc to the Moroccan holding company Saham.

Saham would thus “take over all of the activities operated” by Société Générale Maroc as well as those of the insurance company La Marocaine Vie, which Société Générale held via its insurance subsidiary Sogecap, management indicated in a press release.

More information to come...

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