Societe Generale sells stake in Euroclear 13 November 2018Paris Reporter: Maddie Saghir
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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.
The revaluation of Euroclear securities having been initiated in Q3, the positive impact of this sale on the group’s core equity.
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