No financial details released (Il Sole 24 Ore Radiocor) - Paris, 19 Jun - The French bank Societe Generale Group said that it has entered into an exclusive agreement to sell its subsidiary Shine, which offers an online business account for small corporates and entrepreneurs, to Ageras.

Under the deal, Ageras would take over all of Shine's activities as well as all its employees. The transaction is expected to be completed in the first half of 2025, it added without giving financial details.

"This proposed sale contributes to the simplification of Societe Generale. It allows the group to refocus on SG, its retail banking network in France, to continue developing the professional customer segment. As part of its roll-out, SG is relying on a new model dedicated to this core market based on the expertise of advisors and omnichannel offers to support professional customers in branch or remotely," the bank said.

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(RADIOCOR) 19-06-24 10:57:42 (0258) 5 NNNN