Societe Generale Seeks EU4.8 Billion in Rights Offer
Oct. 6 (Bloomberg) -- Societe Generale SA said that it’s seeking 4.8 billion euros ($7.1 billion) in a rights offer to repay the French state and purchase a stake in retail bank Credit du Nord.
The bank will repay 3.4 billion euros to the state, it said today in a statement on its Web site. Societe Generale is also into talks to purchase Dexia’s 20 percent stake in Credit du Nord, which it aims to conclude by the end of the year.
Current shareholders will be able to purchase two new shares for every nine held at a price of 36 euros a share.
bloomberg
No comments:
Post a Comment