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Bloomberg
Societe Generale agreed to sell its Rosbank PJSC unit to the investment firm of Russia’s richest man, taking a hit of about $3.3 billion to exit the heavily sanctioned nation.
The bank signed an accord to sell its entire stake in Rosbank and its Russian insurance subsidiaries to Vladimir Potanin’s Interros Capital.
Despite the financial hit, SocGen said it’s sticking to plans for a stock buyback of 915 million euros and 2021 dividend of 1.65 euros a share.