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CCF disposes of holding in Société de la Tour Eiffel
The following text is the English translation of a news release issued in France by CCF, a wholly owned, indirectly-held subsidiary of HSBC Holdings plc.
15 July 2003
CCF Group has sold its holding of 36,674 shares in Société de la Tour Eiffel (STE), to Osiris Patrimoine S.A.R.L. (Osiris), part of the AWON Group, for €60 per share, or a total consideration of €2.2 million. CCF and two of its subsidiaries (Société Financière et Mobilière and Excofina) held the shareholding in STE. The sale, which took place on 10 July 2003, represented 39.95 per cent of the issued share capital in STE. The sale will help simplify CCF’s legal structure. There is no effect on the ongoing operations of CCF.
Note:
CCF became a member of the HSBC Group in July 2000. With over 9,500 offices in 80 countries and territories, more than 215,000 employees and assets of US$759 billion at 31 December 2002, the HSBC Group is one of the world’s largest banking and financial services organisations.
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