By Pietro Lombardi

Societe Generale SA (GLE.FR) has sold a 2.05% stake in financial-services company Euroclear to Societe Federale de Participations et d'Investissement, a financial company owned by the Belgian state.

The French bank didn't disclose financial details of the deal, but said Friday that it "remains a significant minority shareholder of Euroclear."

"This disposal is the consequence of the mechanical increase of the group holding induced by the successive share buybacks implemented by Euroclear over the past years," SocGen said.

The revaluation of its stake in Euroclear boosted the French bank's third-quarter results, as SocGen booked a 271 million euros ($309.3 million) capital gain related to such revaluation.

The deal will have a limited positive impact on the French bank's core Tier 1 ratio, it said.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

November 09, 2018 03:45 ET (08:45 GMT)

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