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SocGen Buys Commerzbank Markets Unit to Boost Germany Growth

Fabio Benedetti Valentini
SocGen Buys Commerzbank Markets Unit to Boost Germany Growth

Societe Generale SA is acquiring Commerzbank AG’s exchange-traded products and market-making operations as it expands in Europe’s largest economy. The French bank fended off competition from bidders including Goldman Sachs Group Inc. for the business, which generated more than 350 million euros ($406 million) of revenue last year. SocGen will take over investment products and asset management businesses in cities including London, Paris and Hong Kong as part of the deal, it said in a statement on Tuesday.

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