Swiss Life buys into bank sector
Article Abstract:
Swiss Life has reached an agreement to acquire Banca del Gottardo for 2.4 billion Swiss francs ($1.66 billion). The deal signals Swiss Life's expansion into the banking sector. Under the two-stage deal, Swiss Life will purchase Sumitomo Bank's 53.5% share of Gottardo for 1.37 billion Swiss francs by the end of March 1999. Afterwards, Swiss Life will submit a public tender bid of 1.01 billion francs to the remaining stockholders in Gottardo.
Comment:
Swiss Life to acquire Banca del Gottardo for 2.4 billion Swiss francs ($1.66 billion)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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Hungary approves purchase of ING Bank unit by Citibank
Article Abstract:
The Banking Authority PSZAF of Hungary has approved Citibank's planned takeover of ING Bank's retail division, Citibank Rt. Citibank is acquiring the unit for an undisclosed amount.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2000
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Bank Ekspres will be sold to Tekfen Holding
Article Abstract:
Tefken Holding AS will acquire Bank Ekspres, an insolvent bank based in Turkey. The deal will go into effect on June 30, 2001.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2001
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