Societe Generale Group agrees to sell Ghana subsidiary to Attijariwafa Bank
Société Générale Group has signed an agreement with pan-African banking group Attijariwafa Bank to sell its majority stake in Société Générale Ghana.
Under the agreement, Société Générale Group will divest its entire 60.22% stake in the Ghanaian subsidiary.
Attijariwafa Bank will acquire a 55.22% stake, while the Social Security and National Insurance Trust (SSNIT) will acquire the remaining 5%.
The transaction will result in Attijariwafa Bank taking over all activities currently operated by Société Générale Ghana.
It will also take over the bank’s client portfolios and employees within the entity.
The proposed divestment remains subject to the fulfilment of customary conditions precedent and approval by the relevant financial and regulatory authorities.
The agreement marks a major change in the ownership structure of Société Générale Ghana, with Attijariwafa Bank set to become the new majority shareholder once the transaction receives the required regulatory approvals.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.