Société Générale in €2.3 Billion Rights Offering
September 28, 2006
Cleary Gottlieb is acting as underwriters’ counsel in the €2.3 billion rights offering of nearly 22 million new shares by Société Générale. The offering consists of a public offering in France and private placements internationally. The transaction was launched on September 28 and is expected to close on October 26.
Société Générale is a leading French bank and is one of the top global financial services providers. The offering is intended to finance in part several recent acquisitions, including the acquisition of an increased stake in the Russian bank Rosbank announced simultaneously with the rights offering.