Generale opens wallet for Fortis unit

Article Abstract:

Generale Bank NV will spend 120 billion Belgian francs, or $3.5 billion, in shares and cash to meld Fortis Bank Nederland into Generale's parent, Belgian-Dutch financial services group Fortis. Generale plans to undertake a capital increase to finance the deal with Fortis Bank, which constitutes VSB, MeesPierson and a number of small Dutch holding companies. Generale will become the parent company of Fortis' banking fleet, which will form the 15th-biggest banking company in Europe that focuses on individuals, major businesses, private banking and others.

Comment:

Will spend 120 bil Belgian francs in shares and cash to meld Fortis Bank Nederland into Generale's parent Fortis

Article, Fortis Bank Nederland N.V., Generale Bank N.V.

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KBC is expected to raise stake of CSOB to 90%

Article Abstract:

KBC Bancassurance SA announced that it is expecting to increase its ownership of Ceskoslovenska Obchodni Banka AS (CSOB) to 90%. KBC is a financial group based in Belgium. The group has been engaged in negotiations with the National Bank of Slovakia to acquire the bank's 24% share in CSOB. KBC already owns 66% of CSOB. KBC will acquire the 24% share for 17.5 billion Slovak korunas (404.5 million euros).

Foreign operations, Czech Republic, Banking industry, Mergers, acquisitions and divestments, Ceskoslovenska Obchodni Banka, KBC Bankassurance Holding N.V.

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