PARIS (Reuters) – French bank Societe Generale and U.S. investment management company Alliance Bernstein announced plans on Tuesday to form a joint venture focusing on global cash equities and equity research.
Societe Generale intends to take a 51% interest in the joint venture, with an option to reach 100% ownership after five years, added the French bank.
(Reporting by Sudip Kar-Gupta; Editing by Kirsten Donovan)
