Societe Generale SA sells majority stake in its Moroccan business to Saham Group for €745M.

Societe Generale SA agreed to sell its majority stake in its Moroccan business, Société Générale Marocaine de Banques, to Saham Group for €745 million. The deal, which includes divesting Sogecap's stakes in La Marocaine Vie, is expected to improve SocGen's CET1 ratio and close by year-end. This follows the sale of its equipment finance business for €1.1 billion, as CEO Slawomir Krupa aims to cut expenses by €1.7 billion by 2026.