Congo Republic purchases all of SocGen's shares in a local subsidiary of the bank

Vista International

31/07/2023 21:15

BRAZZAVILLE, July 31 (Reuters) - Congo Republic has
purchased all of Societe Generale's  SOGN.PA  shares in the
bank's country subsidiary, scuppering a deal to hand them over
to Vista Group, the Finance Ministry said in a statement on
Monday.
    SocGen said on June 8 that it had reached an agreement to
sell its subsidiaries in Congo Brazzaville and Equatorial Guinea
to Vista Group for an undisclosed amount. The bank owned 93.5%
of Societe General Congo.
    Congo's Finance Ministry had said days later that it was
surprised by SocGen's announcement.

 (Reporting by Christian Elion
Writing by Sofia Christensen
Editing by Leslie Adler)
 ((Sofia.Christensen@thomsonreuters.com;))