Societe Generale in Talks for Sale of Geniki
2012-08-30 17:31:37
France’s Societe General group is in discussions with Piraeus Bank for the sale of Geniki Bank, its Greek subsidiary, Reuters reported on Wednesday.
SG sources cited by Reuters refused to say whether the talks were at an advanced stage.
The Financial Stability Fund and the Bank of Greece have already notified SG of terms that Geniki must be recapitalized before it is sold.