wodir schreef:
The following is a press release from Fortis:
Impact on Fortis Group of the transactions of 3 and 5 October
1. The proceeds from the sale, announced on 3 October 2008, of the Dutch activities to the Dutch State for EUR 16.8 billion have been allocated as follows:
* EUR 12.8 billion received for the Dutch banking activities (including ABN AMRO) remains within Fortis Bank;
* EUR 4 billion received for the Dutch insurance activities goes to the Fortis Group
2. The EUR 4.7 billion proceeds in cash from the sale of the remaining 50% + one share of Fortis Bank to the Belgian State goes to the Fortis Group
3. The EUR 5.73 billion proceeds in cash from the sale of 100% of Fortis Insurance Belgium to BNP Paribas will go to the Fortis Group.
After these transactions, the assets of Fortis Group will consist of a 100% participation in Fortis Insurance International NV (first half 2008 net profit of EUR 102 million; insurance activities: the 100% owned activities in the UK, France and Hong Kong, and joint-ventures in Luxembourg, Portugal, China, Malaysia, India and Thailand), the 66% participation in the Structured Credit Portfolio entity mentioned above and cash.