Nordea to acquire SG Finans from Societe Generale for €575m.

Nordea, one of the largest financial services group in the Nordics, agreed to acquire SG Finans, equipment finance and factoring activities of Societe Generale, a French bank, for €575m ($634m). The completion of the transaction is subject to the approval of the relevant local antitrust and financial supervisory authorities. “With this agreement, Societe Generale makes once again a major step in the execution of its refocusing plan and demonstrates its ability to enter into long term partnerships. Societe Generale Equipment Finance is a leading player in equipment finance and Societe Generale will continue to leverage on SGEF’s ability to accompany its international vendors and clients and support the real economy,” Philippe Heim, Societe Generale Deputy Chief Executive Officer.