Arab Today, arab today soc gen to sell tcw fund stake to carlyle group and staff
Last Updated : GMT 22:34:38
Arab Today, arab today
Arab Today, arab today

Soc Gen to sell TCW fund stake to Carlyle Group and staff

Arab Today, arab today

Arab Today, arab today Soc Gen to sell TCW fund stake to Carlyle Group and staff

Paris - AFP

The French bank Societe Generale has reached an agreement to sell US asset manager group TCW to the Carlyle Group and TCW employees, a statement said on Thursday. Financial details were not provided, and the deal is expected to be finalised in early 2013. The deal includes the 80 percent stake Societe Generale owns directly in the Los Angeles-based company that has about $127 billion (103 billion euros) in assets under management, as well the remaining 20 percent it owns via a joint venture with Credit Agricole bank. After the deal TCW employees and management will hold approximately 40 percent of TCW, according to Carlyle. For Societe Generale, the deal will reinforce its core capital ratio by 0.13 percentage points, the statement said, helping the bank meet new reserve standards known as Basel III requirements. The bank said the sale was undertaken in line with its programme to focus on core activities, and it would book a limited goodwill charge before the finalisation of the sale. In the second quarter it wrote down by 200 million euros ($245 million) the value of its holding in TCW, which it acquired in 2001, in order \"to take account of the situation in the asset management market in the current economic environment.\" Societe Generale\'s net profit slumped 42 percent in the second quarter to 433 million euros.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today soc gen to sell tcw fund stake to carlyle group and staff Arab Today, arab today soc gen to sell tcw fund stake to carlyle group and staff

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 14:57 2017 Monday ,20 February

A giant initial public offering on track

GMT 14:50 2017 Monday ,20 February

Energy Market Research

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday