PARIS, July 31 Reuters French bank Societe Generale 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.

This acquisition is a new step in the execution of the group strategic roadmap, as part of our ambition to bolster our ESG environmental, social and governance leadership, said SocGen CEO Slawomir Krupa.

1 0.9244 euros

Reporting by Sudip KarGupta; editing by Jason Neely and Louise Heavens

Source Reuters