“After several weeks of intensive work”, the French banking group Societe Generale announced, on Monday April 11, 2022, the signing of an agreement allowing it to sell all of its Rosbank subsidiary and its insurance subsidiaries in Russia. to Interros Capital, the establishment’s previous shareholder. It is the holding company of oligarch Vladimir Potanin, one of the richest men in Russia and close to Vladimir Putin, who controls the mining giant Nornickel.
This operation, which should be finalized “in the coming weeks”, will allow the French bank to withdraw “in an effective and orderly manner from Russia, ensuring continuity” for its 12,000 employees and its customers, specifies the group. In another press release, Interros underlined, the same day, that “the conditions of the agreement had been approved by the governmental commission for the control of foreign investments in the Russian Federation”. This withdrawal of Societe Generale will weigh up to 3.1 billion euros in the accounts of the French group.
