Business Services Industry
MOODY'S SAYS ROSBANK ACQUISITION DOES NOT AFFECT SOCIETE GENERALE'S RATINGS
Info-Prod Research (Middle East), December, 2007
Moody's Investors Service today said that theratings of Societe Generale (Aa1/P-1/B, stable outlook on all ratings)are not affected by the company's announcement that it will exercise itscall option to acquire a majority stake in Rosbank (D / Ba2 / NP). Societe Generale already owns 20% minus one share of Rosbank, which it had acquired in two steps (10% in June 2006 and 10% in September 2006) for a total amount of US$634 million.
The move to buy a majority stakewas largely expected: - In September 2006, at the same time that it raised its stake to 20%minus one share, Societe Generale acquired a call option to get controlof Rosbank; - The call option gave Societe Generale the possibility to reach anownership of 50% plus one share of the bank by the end of 2008; - Societe...
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
