Analyst Research

Report Title Price
Provider: Reuters Investment Profile
Provider: Ford Investor Services, Inc.
Provider: Finlabo SIM Spa
Provider: Reuters Investment Profile

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Societe Generale Sells Stake in National Societe Generale Bank SAE to Qatar National Bank SAQ

Wednesday, 12 Dec 2012 11:52am EST 

Societe Generale announced that it has signed an agreement to sell its 77.17% stake in National Societe Generale Bank SAE (NSGB) to Qatar National Bank SAQ (QNB Group).The key elements of the transaction are the following: a consideration equivalent to a sale price of USD 2,558 million for 100% of NSGB1, i.e. USD 1,974 million for Societe Generale's stake; this represents a multiple to the stated book value of NSGB as of September 30, 2012 of 2.0x; QNB Group and NSGB will also acquire from Societe Generale the stakes not already owned by NSGB in some of the local subsidiaries of NSGB, bringing the total consideration payable to Societe Generale up to USD 2 billion. At the closing of the transaction, the Group will book a net gain of around EUR 350 million. Societe Generale will sell its stake to QNB Group by tendering its shares into a mandatory tender offer to be launched by QNB Group to all shareholders of NSGB after the obtaining of mandatory regulatory approvals including the approval of the Central Bank of Egypt. The closing of the transaction is expected to take place in the first half of 2013. 

Company Quote

-0.15 -0.36%
19 Sep 2014