SOCIETE GENERALE: SOCIETE GENERALE SIGNS A FRAMEWORK AGREEMENT WITH VTB TO
STRENGHTEN ITS POSITION IN ROSBANK
Paris, Moscow, October 7th, 2013
SOCIETE GENERALE signs a framework agreement with VTB
to strengthen its position in Rosbank
Societe Generale has signed a framework agreement with VTB Group for the
acquisition of VTB Group's 10% stake in Rosbank. Through this acquisition
Societe Generale strengthens its commitment to the Russian market, increasing
its stake in Rosbank to 92.4%.
In exchange, the agreement includes the sale by Societe Generale Group to VTB
Group of certain Russian assets: shares listed on Moscow Exchange as well as
some loans and real-estate assets. These operations contribute to Rosbank's
ongoing strategic refocusing.
This transaction will have a positive financial impact on Rosbank and limited
impact on Societe Generale Core Tier 1 ratio.
The transaction is expected to be completed in Q4 2013.
Societe Generale is one of the largest European financial services groups.
Based on a diversified universal banking model, the Group combines financial
solidity with a strategy of sustainable growth, and aims to be the reference
for relationship banking, recognised on its markets, close to clients, chosen
for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years.
With more than 154,000 employees, based in 76 countries, we accompany 32
million clients throughout the world on a daily basis. Societe Generale's
teams offer advice and services to individual, corporate and institutional
customers in three core businesses:
*Retail banking in France with the Societe Generale branch network, Credit
du Nord and Boursorama, offering a comprehensive range of multichannel
financial services on the leading edge of digital innovation;
*International retail banking, financial services and insurance with a
presence in emerging economies and leading specialised businesses;
*Corporate and investment banking, private banking, asset management and
securities services, with recognised expertise, top international rankings
and integrated solutions.
Societe Generale is included in the socially-responsible investment indices
FTSE4Good and ASPI.
For more information, you can follow us on twitter @societegenerale or visit
our website www.societegenerale.com.
Contact Société Générale, Paris : Astrid Brunini +33(0)1 42 13 68 71
Contact Rosbank, Moscow: Dmitry Grachev, +7 (495) 232 98 47
SOCIETE GENERALE SIGNS A FRAMEWORK AGREEMENT WITH VTB
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Source: SOCIETE GENERALE via Thomson Reuters ONE
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