February 14, 2007 / 12:00 PM / in 12 years

Calyon Financial/Fimat agreement seen in H1 -SocGen

PARIS, Feb 14 (Reuters) - French bank Societe Generale (SOGN.PA) said it expected to reach a final agreement during the first half on a merger deal between its Fimat division and futures and options brokerage Calyon Financial.

“We would hope to reach an agreement by the end of the first half,” SocGen board member Philippe Collas told reporters on Wednesday as the French bank held a presentation for its fourth-quarter results.

“There is still a lot of work to do,” he added.

In January, Calyon Financial, which is owned by French bank Credit Agricole (CAGR.PA), and Fimat said they were considering merging their derivatives businesses into a 50/50 joint venture.

A merger between the two would form a global leader in derivatives markets.

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