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Banks: BCM suspends the takeover of the French branch of SGM

30/11/2023
Source : ORISHAS FINANCE
Categories: Sectors

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The Central Bank of Mauritania (BCM) has suspended the acquisition of the French branch of Société Générale Mauritanie (SGM) from the Coris group.

The suspension action taken by the BCM could be a prelude to the cancellation of the agreement that has reached an advanced stage. Last June, the SG announced the sale of its branches in Mauritania and Chad to the Coris group, and specified at the time that the transaction would be finalized at the end of 2023. The BCM informed the purchaser of the suspension of the transaction, due to accusations of fraud against him by Mauritanian investors

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