BlackRock crosses a threshold at Societe Generale

BlackRock, Inc., the asset management giant, has announced that it has crossed the 5% threshold of voting rights in Société Générale downwards. As of November 14, 2024, the company held 43,811,840 shares, representing 5.47% of the capital and 4.94% of the voting rights. This movement is due to a sale of shares on the market and a reduction in shares used as collateral.

The letter received by the Autorité des Marchés Financiers (AMF) on November 15, 2024 specifies that BlackRock exercises management on behalf of clients and funds. The manager holds ADRs, shares under financial contracts and others as loans, which impacts voting rights.

Société Générale currently has 800,316,777 shares and 886,196,788 voting rights. This statement highlights the power dynamics within the financial institution's shareholder structure.