Deutsche Bank is negative about BfG bid's outcome
Article Abstract:
Deutsche Bank AG Chairman Rolf Breuer said the outcome of its due-diligence process in its bidding for Credit Lyonnais SA's 50.1% stake in Bank fuer Gemeinwirtschaft (BfG) is negative. Breuer said the outcome of the due diligence is not final. On Oct. 30, 1998, Deutsche Bank made public its intention to seek the stake in BfG, a retail-banking concern which is also being wooed by BHW Holding AG. Credit By October 1999, Lyonnais needs to divest its stake in BfG and other firms so that it can be privatized.
Comment:
Deutsche Bank says outcome of due-diligence process in bidding for co's 50.1% stake in Bank fuer Gemeinwirtschaft is negative
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Deutsche Bank considers a bid for BFG shares
Article Abstract:
Deutsche Bank AG is considering the possibility of acquiring all of BFG Bank AG's shares. Such a transaction would cost from 4 billion marks to 5 billion marks (between $2.4 billion and $3 billion). BFG is a midsized retail bank based in Germany. Deutsche Bank's chairman, Rolf Breuer, acknowledged that the bank was looking into acquiring BFG. Regulators are forcing Credit Lyonnais SA, BFG's majority owner, to sell its shares for its reorganization. BFG has 80 billion marks in assets.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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