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International

France: Groupama sells remaining stake in Societe Generale for $688.7 million

August 14, 2013 Reprints

France-based Groupama S.A. has divested its remaining 1.86% stake, or 14.88 million shares, in Societe Generale S.A. for €517.8 million ($688.7 million), Reuters reported.

The shares were sold at €34.8 ($46.3) apiece.

Groupama said this move would help it strengthen its financial flexibility, while also reducing its exposure to market risks, Reuters reported.

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France: Groupama sells remaining stake in Societe Generale for $688.7 million

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