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SocGen to Sell Bulk of Morocco Business in €745 Million Deal

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Socgen,Societe Generale,Moroccan Business

(Bloomberg) -- Societe Generale SA is selling the bulk of its Moroccan business to Saham Group in a €745 million ($798 million) deal, accelerating Chief...

-- Societe Generale SA is selling the bulk of its Moroccan business to Saham Group in a €745 million deal, accelerating Chief Executive Officer Slawomir Krupa’s plan to streamline the lender.US Slams Strikes on Russia Oil Refineries as Risk to Oil Markets

Krupa, who took the reins last year with a mandate to boost its lagging valuation, has pledged to cut expenses by €1.7 billion by 2026 and bring the firm’s cost-to-income ratio below 60%. Earlier this year, the lender announced plans to cut about 900 jobs at its head office. -- A Chinese cement producer was in the spotlight after it suspended stock trading Wednesday, following a selloff that nearly wiped out all its market value in the final 15 minutes of the previous session.

 

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