Agricole to buy Indosuez
Article Abstract:
Credit Agricole will acquire Banque Indosuez from Suez through an initial acquistion of 51% which may be increased to 100% over four years. Suez faces losses from real estate activities, and thus needs cash. Gerard Mestrallet, new head of Suez, orginally planned to retain Banque Indosuez, but the change of a cash injection from the sale has led him to change his plans. Indosuez accounts for around a fifth of the assets of Suez, and the company will still be diversified after the sale.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Bank bids resurface
Article Abstract:
NationsBank is acquiring Boatmen's Bancshares for $9 billion. NationsBank share price dropped after the announcement, although the price had previously risen by more than the norm for shares in banks. Some analysts see the price paid for Boatmen's as high, though NationsBank argues that it has not overpaid. The merger was well received by credit agencies and a number of agencies are considering raising ratings for the debts of the two concerns.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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