SEB Divests French Operations to Société Générale
Nordic finance group SEB has reached an agreement to divest its operations in France to Société Générale. The transfer includes local staff. Through the divestment, SEB will be able to service its customers in France with a broadened service and product offering, built on SocGen’s as well as SEB’s total offering.
The transaction is expected to be completed in the fourth quarter of 2010.