Societe Generale sells stake in Euroclear 13 November 2018Paris Reporter: Maddie Saghir
Image: Shutterstock
Societe Generale has sold a stake of 2.05 percent in Euroclear to Société Fédérale de Participations et d'Investissement (SFPI).
After the sale of the stake, Societe Generale will remain as a significant minority shareholder of Euroclear.
According to Societe Generale, the disposal is the consequence of the mechanical increase of the Group holding included by the successive share buy-backs implemented by Euroclear over the past years.
Meanwhile, all of the authorisations required for the closing of the transaction have already been obtained.
Since the revaluaton of Euroclear securities was initiated in Q3 2018, the positive impact of this sale on the group's core equity will be limited.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 