UPDATE:BPCE To Sell Societe Marseillaise To Societe Generale:Report

11th Jun 2010 18:45

(Adds that Groupe BPCE and Societe Generale declined to comment; background.) By Elena Berton Of DOW JONES NEWSWIRES PARIS (Dow Jones)--French mutual bank Groupe BPCE is selling regional bank Societe Marseillaise de Credit to French lender Societe Generale SA (SCGLY, GLE.FR), French daily La Tribune reported on its website Friday, without citing sources. According to the newspaper, the announcement of the sale is expected to be made in the near future. Groupe BPCE and Societe Generale declined to comment. Societe Marseillaise de Credit was acquired from U.K. banking group HSBC Holdings PLC (HBC, HSBA.LN, 0005.HK) in 2008 along with six other French regional banks in a deal valued at EUR2.1 billion. -By Elena Berton, Dow Jones Newswires; +33 10 4017 1765; [email protected] (END) Dow Jones Newswires June 11, 2010 13:45 ET (17:45 GMT)