Société Générale has denied a report from La Lettre de
L’Expansion that it is considering the sale of its Franfinance
leasing unit.
“It’s an unfounded rumour,” said Paris-based spokeswoman Laura
Schalk.
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Earlier in the week L’Expansion reported that Société
Générale, the French bank, was considering selling its leasing
division Franfinance. The publication also claimed that Crédit
Agricole might be interested in taking over the unit.
Franfinance, part of SG Equipment Finance, offers asset
financing and sales finance as well as consumer finance in 17
European countries and Australia. It works in mainly three sectors
– the high-tech, transport, and materials handing and construction
industries.
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