24 April 2012
Societe Generale has become Japaninvest Group plc's largest shareholderJapaninvest Group plc is pleased to announce that Societe Generale, France's second largest bank, has acquired a 24.99% stake, becoming the group's largest shareholder. The price paid is Y7992 per share. Commenting on the transaction Rupert Eastwood (Japaninvest CEO) said; "This deal cements a successful Alliance which has seen strong revenue and client market share growth since inception. We look forward to working even more closely with SG going forward.' Mark Burges Watson (Japaninvest COO) commented; 'JI now has a fully integrated Pan Asian research and sales product, covering 177 stocks, which represents 40% of North Asian market cap. This transaction now formally binds our product offering to SG's excellent macro research and Pan Asian execution platform. SG and JI have created an excellent springboard to take Alliance revenues to the next level.'