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Societe Generale in talks on selling its leasing company’s assets in Russia — newspaper

In April, 2022 Societe Generale announced termination of its activities in Russia and sale of its share in Rosbank to the Russian company Interros of Vladimir Potanin

PARIS, February 20. /TASS/. The French financial group Societe Generale is negotiating the sale of the Russian division of its subsidiary leasing company ALD Automotive, Les Echos newspaper reported on Monday citing sources.

According to the newspaper, the financial group is in talks with " buyers from Russia." The publication clarifies that it can be Russian businessman Igor Kim, the main shareholder of the Russian Expobank. Kim is also named among the applicants for the assets of Citi and HSBC in Russia.

ALD Automotive owns 14,600 vehicles in Russia and Belarus, the publication says. The newspaper could not obtain a comment from the group.

In April, 2022 Societe Generale announced termination of its activities in Russia and sale of its share in Rosbank to the Russian company Interros of Vladimir Potanin. In November, Interros completed the transfer of a 47.5% stake in Rosbank to the Vladimir Potanin Charitable Foundation, reducing its stake to 45%.