NSGB Seeks To Acquire NBE’s Equity In SOGELEASE

National Société Générale Bank (NSGB) is in talks with the National Bank of Egypt (NBE) to acquire the latter’s equity in SOGELEASE EGYPT.

NSGB acquires 40% of the Company’s capital shares and plans to acquire NBE’s stake in SOGELEASE EGYPT which is 160,000 shares, or 20% of the Company’s shares.

SOGELEASE EGYPT, established in 1997, has a market share of 5.2% at the end of June 2012, according to the latest data released by the Egyptian Financial Supervisory Authority (EFSA).

According to EFSA’s recent quarterly report, the company has signed 92 contracts worth EGP 90.5 million, securing the fifth rank among the finance lease companies in Egypt with a market share of 5.2%.

SOGELEASE EGYPT topped the list of the finance lease companies in Egypt by acquiring a market share of 33.2% after signing 146 contracts worth EGP 669.5 million at the end of June 2011.