TITLE

Reports: Societe Generale Considers Newedge Buy-Out

AUTHOR(S)
Wang, Wicy
PUB. DATE
June 2013
SOURCE
Global Custodian News;2013, p32
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on banking and financial services firm Societe Generale's (SocGen) consideration of buying out retail banking group Credit Agricole's 50 percent stake in Newedge, their jointly owned prime broker. It mentions the estimated total value of Newedge, which a source says has been put up for sale since 2011. SocGen believes that Newedge will fit into its strategy of prioritizing flow products, or the trading of low-risk securities that consume little capital.
ACCESSION #
88874877

 

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