Societe Generale has entered into an agreement with the State of Cameroon to sell its 58.08% stake in Société Générale Cameroun. This transaction will result in the State of Cameroon holding 83.68% of the shares in the subsidiary. The agreement includes provisions for the State of Cameroon to assume all activities, client portfolios, and employees associated with Société Générale Cameroun.
The sale is expected to positively impact Societe Generale's CET1 ratio by approximately 6 basis points upon completion, which could occur by the end of 2025. The divestment is contingent on standard conditions and approvals from financial and regulatory authorities.
For further information, contact Jean-Baptiste Froville at +33 1 58 98 68 00 or jean-baptiste.froville@socgen.com, and Amandine Grison at +33 1 41 45 92 40 or amandine.grison@socgen.com.