Franfinance to acquire a majority stake in ITL from Banque Francaise Mutualiste.

Franfinance, a subsidiary of Societe Generale, a provider in equipment finance, agreed to acquire a majority stake in Ingenierie Technique et Location, an equipment leasing company, from Banque Francaise Mutualiste, a provider of a full range of commercial banking services. Financial terms were not disclosed. “This transaction will help strengthen our commercial positions by capitalising on ITL's recognised expertise among its 3k customers. We also aim to develop the Liz&Med digital platform, a marketplace for leasing medical equipment”, explains Frederic Jacob-Peron, Franfinance CEO.