France’s SocGen to buy 75% stake in energy-focused investment firm Reed Management

 French bank Societe Generale (SOGN.PA), opens new tab said on Wednesday it had agreed to buy a 75% stake in Reed Management, an alternative asset management company dealing in the energy sector.

The takeover will also see SocGen invest 250 million euros ($270.45 million) in the Reed Management business.

Reed Management said it aims to be a leading global investor in the energy transition sector, and it will target direct equity investments in companies specialising in areas such as cutting carbon emissions.

Source: REUTER