Saham Group to acquire a 57.67% stake in Société Générale Maroc and La Marocaine Vie for €745m.

Saham Group, a commercial company, agreed to acquire a 57.67% stake in Société Générale Maroc, a commercial bank, and La Marocaine Vie, a personal insurance company, for €745m. "Societe Generale is pursuing the implementation of its strategic roadmap through this divestment project. Over the last decades, Societe Generale has built a solid and recognised bank in Morocco serving more than one million clients. We are convinced the quality of Saham Group's proposed project will offer new development prospects for these activities and will create value for customers and employees. Societe Generale is fully committed to support the transition and is pleased to enter into a long-term partnership with Saham Group,” Slawomir Krupa, Societe Generale CEO.