PARIS (dpa-AFX) - Societe Generale SA (SCGLF.PK), a French financial
services company, Thursday said it signed a Memorandum of Understanding with
Groupe BPCE to sell Societe Generale Equipment Finance, the company's
professional equipment financing businesses, for 1.1 billion euros.

Groupe BPCE would take over Societe Generale Equipment Finance's most of the
activities, excluding that of Czech Republic and Slovakia.

The outstanding loans of the businesses covered by the Memorandum of
Understanding comes to nearly 15 billion euros at the end of December 2023.

The transaction is estimated to have a positive impact of about 25 basis points
on the Group's CET1 ratio after the closing the deal, which is expected in the
first quarter of 2025.

'We announced that the Group would take strategic decisions to simplify its
business portfolio and shape a more integrated, competitive and synergetic
business model,' commented Slawomir Krupa, Chief Executive Officer of Societe
Generale Group.



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