Paris bank with the Belgian Government on the acquisition of Fortis Bank assets reached a newagreement

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Under the new agreement, BNP Paribas will buy 75 percent of Fortis Bank's shares. Fortis Bank is a

listed company once owned Fortis Bank Department, but the Belgian government is now in control.

Fortis Bank will now be in Paris, France, secured bank financing from Fortis Fortis holding

company acquired 25% of the Belgian insurance company shares, purchase price for the 1.375 billion

euros, or about 1.74 billion U.S. dollars.

In addition, the new requirements in the agreement, the Government of Belgium, Fortis Bank

will provide the potential loss of guarantee will be up to the total will reach 15 billion euros.

At the same time, Fortis Bank is also approved in the next three years to issue up to two billion

euros of shares, purchase by the Government of Belgium.

According to previous agreement, Fortis Bank will buy 10% stake in insurance companies, but

the plan failed to obtain the shareholder vote.

Fortis Holdings shareholders will be in April at a new agreement on the above vote.

Fortis Bank said in a statement, Fortis Holdings board of directors believe that the new

protocol has improved, so the Board of Directors strongly recommends that shareholders vote in

favor of this agreement.