Fortis: unprofitable and unattractive
11 February 2009Fortis is expecting shareholders’ voting concerning purchase of a share of its Belgian division by the French group BNP Paribas. According to Belgian newspapers De Tijd and L`Echo, the plan of future measures in case if shareholders will not approve the transaction, is being worked out.
The largest shareholder - Fortis Chinese Ping An - has already expressed readiness to vote against the purchase. BNP Paribas, in turn, declared that in case of shareholders’ disagreement, it will refuse from purchase of Fortis’ insurance division (it is a question of purchase of 10% share for EUR 550 million). Experts prove that in case of shareholders’ disagreement Fortis will have to loan credits from the Central Bank of Belgium in order to provide necessary level of liquidity.
- Fortis will not face block Netherlands’ actives
- Individual voluntary medical insurance is unprofitable for insurers
- Life insurance policy (Part 1)
- American insurers can become banks
Leave a reply
You must be logged in to post a comment.
