SocGen closes $2 bln sale of Egypt unit

PARIS, March 28 Thu Mar 28, 2013 10:39am EDT

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PARIS, March 28 (Reuters) - Societe Generale said on Thursday it finalised the sale of its entire stake in Egyptian subsidiary National Societe Generale Bank (NSGB) to Qatar National Bank for $2 billion.

The French bank said it would book a net gain of 370 million euros ($473 million) in the first quarter on the deal, which it said would increase the group's Basel 3 Core Tier 1 ratio by 29 basis points on a pro forma basis at the end of 2013. ($1 = 0.7824 euros) (Reporting by Lionel Laurent; Editing by James Regan)

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