Societe Generale SA France (GLE.FR) said Tuesday that it has sold its subsidiary Boursorama's stake in Self Trade Bank to Warburg Pincus LLC.
The French bank said the disposal to the U.S. private equity firm is part of its continuous efforts to simplify its setup and focus on core businesses.
The transaction will have a positive effect on the company's financial ratios and is expected to close by the end of the year, Societe Generale said.
No financial details have been disclosed.