Societe Generale to acquire RBS Sempra gas and power assets

Hand shake

Société Générale Corporate and Investment Banking (SG CIB) has agreed to buy the North American power and natural gas assets of RBS Sempra Commodities.

The purchase will also mean SG CIB acquires a major IT platform for trading these assets and will add around 130 gas and electricity professionals to the bank's network, which is headed by the global head of commodities markets, Edouard Neviaski.

"This acquisition is crucial in expanding our physical capabilities, as power and gas is a big focus