Jefferies Group LLC (JEF) announced that it has entered into a definitive agreement for Societe Generale S.A. (SCGLF.PK,SCGLY.PK) to acquire most of the futures activities of Jefferies' Bache business. A majority of the client activities currently serviced by Bache will be transferred to Societe Generale.
Jefferies estimates the deal and winding up the balance of the Bache business will result in one-time costs of about $66 million after-tax, of which $23 million are non-cash and the majority of the balance is compensation, severance and technology-related. Jefferies expects that exiting this business will be accretive to its future earnings.
For comments and feedback contact: editorial@rttnews.com
Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.