Fortis finalises the sale of its holding in its Spanish joint venture, CaiFor, to "la Caixa"
November 13 2007 - 1:04AM
Marketwired
BRUSSELS, BELGIUM to "la Caixa", for a total cash consideration
of EUR 980 million, including 2007 interim dividend of EUR 30
million.
Fortis and "la Caixa" had announced in July that they had
mutually decided to end their CaiFor joint venture after 15 years
of fruitful collaboration.
This transaction generates, in the 4th quarter of 2007, a gain
of EUR 950 million after tax.
Gilbert Mittler, CFO of Fortis, comments: "The timing of this
transaction fits perfectly with Fortis's acquisition of parts of
ABN AMRO. As announced earlier, the proceeds of this divestment,
not only contribute to the financing of the acquisition, but also
reinforce our solvency position".
Fortis is an international financial services provider engaged
in banking and insurance. We offer our personal, business and
institutional customers a comprehensive package of products and
services through our own channels, in collaboration with
intermediaries and through other distribution partners. With a
market capitalisation of EUR 48.5 billion (31/10/2007), Fortis
ranks among the 15 largest financial institutions in Europe. Our
sound solvency position, our presence in over 50 countries and our
dedicated, professional workforce of 60,000 enable us to combine
global strength with local flexibility and provide our clients with
optimum support. More information is available at
www.fortis.com.
For more information:
Press Contacts:
Brussels: +32 (0)2 565 35 84 Utrecht: +31 (0)30 226 32 19
Investor Relations:
Brussels: +32 (0)2 565 53 78 Utrecht: +31 (0)30 226 65 66
pdf version of the press release:
http://hugin.info/134212/R/1167953/229291.pdf
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