Shearman & Sterling advised Société Générale in connection with the signing of an agreement to sell SG Finans AS, its equipment finance and factoring activities in Norway, Sweden and Denmark, to Nordea Finance, the asset based finance and factoring arm of Nordea Bank.

The completion of the transaction is subject to the approval of the relevant local antitrust and financial supervisory authorities. This transaction is expected to have a positive impact on the Société Générale Group’s CET1 ratio of around 10 basis points.

Alongside the transaction, Societe Generale Equipment Finance and Nordea Finance have entered into a commercial partnership agreement that will encompass the provision of mutual services in vendor solutions and equipment finance. 

The Team