Fortis Group shareholders of BNP Paribas General Assembly taken on the joining accord
April 28 Xinhua Fortis Group shareholders here on the 28th General Assembly passed the Fortis Bank and BNP Paribas amalgamation agreement.
Under the accord, BNP Paribas will pay for 75% of Fortis Bank's shares. In augmentation, a bank warranty in Paris, France, the Fortis Bank from Fortis Group, Fortis of Belgium to pay for their 25% stake in indemnity companies.
Fortis Group in September last year due to fiscal critical purpose in Belgium and Luxembourg were impelled to accept the government's equity financial endeavour in rank to enhance mobility. In October the matching year, the Government of Belgium to arrive at an accord with BNP Paribas, which will be held by the Belgian government to pay for 75% stake in Fortis Bank Belgium.
The whole process because of prior consent of shareholders views dissatisfaction among some shareholders and the courts. Brussels, Belgium, the Court of Appeal ruled the transaction illegal. Thereafter, BNP Paribas and the Belgian Government to amend the terms of the agreement, but the Fortis Group shareholders in February this year the General Assembly has again ruled out the revised terms of the agreement. After intense consultations, the third agreement was reached early in March this year.
The new affirmation desires to be on the 29th in Utrecht, the Netherlands of Fortis Bank to convene Annual General Meeting were approved. If a new affirmation in agreement with the above-mentioned acquisition of the last become a truth, Paris, with total reserves of the banks will soak up as much as 540 billion euros. If this benchmark place, BNP Paribas will become Europe's biggest bank. - 18780
Under the accord, BNP Paribas will pay for 75% of Fortis Bank's shares. In augmentation, a bank warranty in Paris, France, the Fortis Bank from Fortis Group, Fortis of Belgium to pay for their 25% stake in indemnity companies.
Fortis Group in September last year due to fiscal critical purpose in Belgium and Luxembourg were impelled to accept the government's equity financial endeavour in rank to enhance mobility. In October the matching year, the Government of Belgium to arrive at an accord with BNP Paribas, which will be held by the Belgian government to pay for 75% stake in Fortis Bank Belgium.
The whole process because of prior consent of shareholders views dissatisfaction among some shareholders and the courts. Brussels, Belgium, the Court of Appeal ruled the transaction illegal. Thereafter, BNP Paribas and the Belgian Government to amend the terms of the agreement, but the Fortis Group shareholders in February this year the General Assembly has again ruled out the revised terms of the agreement. After intense consultations, the third agreement was reached early in March this year.
The new affirmation desires to be on the 29th in Utrecht, the Netherlands of Fortis Bank to convene Annual General Meeting were approved. If a new affirmation in agreement with the above-mentioned acquisition of the last become a truth, Paris, with total reserves of the banks will soak up as much as 540 billion euros. If this benchmark place, BNP Paribas will become Europe's biggest bank. - 18780
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1:24 AM
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