Deals
SocGen Explores Strategic Options for Asset Custodian Unit
- Lender working with Citigroup on a potential sale, people say
- New CEO Krupa hinted at possible disposals earlier this week
A Societe Generale branch in Paris.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
Societe Generale SA is exploring strategic options for its asset custodian unit, including a sale, as part a plan to boost its valuation by getting rid of poorly performing businesses.
The Paris-based bank is working with Citigroup Inc. on a potential deal for Societe Generale Securities Services, also known as SGSS, people familiar with the plan said, asking not to be identified discussing private matters. The unit could be valued at more than €1 billion ($1.1 billion), one of the people said.