Fortis

Fortis

Fortis is a Dutch-Belgian banking group that is part of a group bidding for ABN Amro. Follow business news about Fortis and share your opinion about the potential ABN Amro deal.

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From:   www.afp.com
The biggest German bank, Deutsche Bank, said Tuesday it would buy parts of the state-owned Dutch lender ABN Amro's activities in the Netherlands for an undisclosed amount. "The assets to be acquired remain the same as those in the original agreement announced on July 2, 2008. Negotiations continue on final terms and conditions" with the Dutch finance ministry, a statement said. The deal, targeting parts of the Dutch bank's commercial banking activities, is subject to approval by ABN Amro, Deutsche Bank's supervisory board, the Dutch central bank and regulatory authorities, it added. In September, Deutsche Bank had said it would abandon negotiations for the ... Read Full Story
From:   www.afp.com
Germany's Deutsche Bank informed the Netherlands on Thursday it was putting an end to negotiations for the purchase of parts of nationalised bank ABN Amro, the Dutch finance ministry said. "Deutsche Bank informed the ministry of finance that it does not wish to negotiate any further," said a letter by Finance Minister Wouter Bos, addressed to parliament and posted on the ministry website. "The parties could not agree on the conditions" for the transaction, he said, adding he found the decision "regrettable." The Dutch government nationalised the Netherlands-based activities of erstwhile Belgo-Dutch banking and insurance group Fortis for 16.8 billion euros (22 billion dollars) ... Read Full Story
From:   www.afp.com
Shareholders of dismantled bank Fortis won the right on Thursday to call senior bank and government officials to court to explain the actions they claim caused them huge financial losses last year. The district court in Amsterdam "orders a preliminary evidentiary hearing," said a statement, granting an application by FortisEffect, a group that claims to represent some 1,250 investors. Dutch Prime Minister Jan Peter Balkenende and his former Belgian counterpart Yves Leterme, Dutch Finance Minister Wouter Bos and Dutch central bank president Nout Wellink as well as several former Fortis bosses would "almost definitely" be among those called to give evidence, FortisEffect lawyer Adriaan ... Read Full Story
From:   www.afp.com
Dutch lender ABN Amro said Tuesday up to 5,000 jobs would be cut in its merger with the Netherlands banking branch of Fortis after the two were nationalised in the world financial crisis. "The number of posts will decrease by between 4,000 and 5,000 by 2012," ABN Amro spokesman Jeroen van Maarschalkerweerd told AFP. The cuts were aimed at making savings worth between one and 1.3 billion euros (1.8 billion dollars). ABN Amro and Fortis's Dutch banking operations together employ 30,000 people, most of them in the Netherlands, and have combined sales of 8.0 billion euros, according to the Dutch government. Van Maarschalkerweerd said ... Read Full Story
From:   www.afp.com
The Dutch government proposed a further 2.5-billion-euro (3.5-billion-dollar) financial boost Friday for ABN Amro bank, in which it is a major shareholder. The money was "to cover the immediate demand for 2.5 billion in capital," the finance ministry said in a statement. For 1.7 billion euros of the total, the government would take over the credit risk of ABN Amro's Dutch mortgage portfolio, while the other 800 million would be in the form of a loan, a ministry spokeswoman explained. Finance Minister Wouter Bos asked parliament to approve the proposal in a letter submitted on Friday. The Dutch government nationalised the Netherlands-based activities of ... Read Full Story
Fortis, the Swiss manufacturer of professional aviation and space watches, has announced that it will showcase and launch the MARS 500, a brand new and exclusive limited edition piece, at the Dubai Airshow, held at Dubai Airport Expo from 15 - 19 November 2009.  
From ameinfo.com ()
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Fortis says its options in BNP worth moreReutersFortis was carved up by the Dutch, Belgian and Luxembourg governments in October 2008 after an 11.2 billion euro cash injection failed to stem the slide of ...Fortis: Price Of Call Option On BNP Paribas Cut To EUR66.672Wall Street Journalall 11 news articles »  
From news.google.com ()
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The company also owns unregulated hydroelectric generation plants in Canada, Belize and upper New York State. In addition, it owns hotels and commercial real estate in Canada. The company s areas of operation are spread across British Columbia and ...  
From search.msn.com ()
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London, November , 06, 2009 On 24 September 2009 Fortis Finance announced its intention to launch a voluntary public offer in cash on its EUR 1.0 billion of outstanding debt under the European Medium Term Notes (EMTN) programme and the Inflation Linked Notes. The public offer is part of Fortis' plan to proactively manage the legacy issues. On 3 November 2009 the Belgian regulator CBFA approved the prospectus, which will be available as of the...  
From pr-inside.com ()
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Nov. 11 (Bloomberg) -- Fortis Bank (Nederland) NV’s 100 billion-euro ($150 billion) covered-bond program may open a “highway” for mortgage debt sales in Europe when it seeks buyers for assets designed to back central bank loans, according to a ...  
From search.msn.com ()
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AMSTERDAM (Reuters) - The Netherlands is looking into options to sell Fortis Bank Nederland assets to French bank BNP Paribas to get approval for a merger of nationalized banks ABN AMRO and Fortis Bank Nederland , a Dutch newspaper reported on Tuesday.  
From reuters.com ()
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In an interview to CNBCTV18, Meera Sanyal Country Head of ABN Amro Bank discusses about the credit policy expectations. \"Interest rates will go up as wholesale price index (WPI) and consumer price index (CPI) continue to rise,\" she says.  
From moneycontrol.com ()
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