Groupe BPCE to acquire a majority stake in Societe Generale Equipment Finance from Societe Generale in a €1.1bn deal.

Groupe BPCE, a major French banking group, agreed to acquire a majority stake in Societe Generale Equipment Finance, an international equipment and vendor finance specialist, from Societe Generale, a multinational financial services company, in a €1.1bn deal. "During the presentation of the Group's strategy in September 2023, we affirmed Societe Generale's ambition to be a rock-solid and sustainable top tier European bank. We announced that the Group would take strategic decisions to simplify its business portfolio and shape a more integrated, competitive and synergetic business model. The signing of the Memorandum of Understanding with Groupe BPCE for the sale of SGEF's activities illustrates the strategic roadmap’s execution that creates value for all our stakeholders," Slawomir Krupa, Societe Generale CEO.