SocGen Plans Boursorama Grab To Up E-Banking Presence

Law360, New York (March 18, 2014, 4:04 PM EDT) -- Societe Generale SA said Tuesday it plans to make a takeover offer to the minority shareholders of its controlled online banking subsidiary Boursorama in a deal valuing it at just over €1 billion ($1.4 billion), as Societe Generale looks to increase its presence in the online banking market.

The French bank plans to offer €12 per share to acquire the remaining shares of Boursorama not already controlled by itself or Spain-based la Caixa Group, Societe Generale said Tuesday. The offer represents a 22 percent premium over...
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