BNP Paribas Fortis

The BNP Paribas Fortis SA emerged from Fortis Bank Belgium SA. Since mid-May 2009, they owned 75 percent of the French bank BNP Paribas, and 25 percent of the Belgian State ( State Holding SFPI / FPIM ).

The Belgian bank has about 37,000 employees, including more than 18,000 employees in Belgium and based in Brussels / Belgium.

Development

In the context of the financial crisis, Fortis Holding has fallen into a massive financial crisis in mid-September 2008. The Belgian state has taken on September 29, 2008 for 4.7 billion euros a share of 49.9 percent of Fortis Bank Belgium SA. Furthermore, the Belgian state has taken from 6 to 10 October 2008 for an additional 4.7 billion euros a further 50 per cent plus 1 share in Fortis Bank. A share of 99.93 percent of Fortis Bank is held by the Belgian State concerning the SFPI / FPIM ( Société Fédérale de Participations et d' Investissement / Federale Participatie -en Investerings SA / NV).

Acquisition by BNP Paribas

A share of 75 percent of Fortis Bank to the Belgian state holding SFPI / FPIM was broadcast on 12 May 2009 to the French bank BNP Paribas. A remaining 25 percent is retained by the Belgian state holding SFPI / FPIM. The Fortis Bank Belgium SA was renamed on May 15, 2009 in BNP Paribas Fortis.

Structural data

The Fortis Bank Belgium has more than 37,000 employees, including more than 18,000 employees in Belgium. Fortis Bank has given on 14 April 2009 for the 2008 financial year a loss of 20.6 billion euros known. Board boss is Jozef De Mey.

Divisions

In the consumer market, Fortis Bank Belgium operates as Fintro.

Fortis Merchant Banking is a division of Fortis Bank, which operates worldwide. Merchant Banking offers financial services to large companies and institutions.

Fortis Investment Management SA includes the investment division and asset management. It is part of Fortis Bank Belgium SA.

Fortis Commercial Banking and Fortis Lease Group Services SA are also part of Fortis Bank Belgium.

Fortis Lease Group SA is an international leasing company in Brussels / Belgium. Fortis Lease Group CEO is Claude Crepin. Fortis Lease Group is part of Fortis Bank Belgium SA.

Fortis Lease goes back to the euro was founded in 1962 lease. In 2000, EUR lease, leasing and ACE IT Finance for Fortis Lease Belgium. In 2000, ' FMN Lease and Lease for Generale Bank, Fortis Lease Netherlands. After 2000, following numerous acquisitions and start-ups in many European countries (France, Germany, Great Britain, Spain, Portugal, Poland, Czech Republic, Romania, Turkey, etc.). Fortis Lease is active in 22 countries.

Activities in Germany

Over the 1998/99 adopted Belgian Generale Bank, headquartered in Cologne, Fortis is active since 1920 in Germany. Following the acquisition of Von Essen GmbH & Co. KG Bank of the concept of "Credit - shops " has been implemented under the brand Credit4me since June 2006. The remaining Fortis operating units ( Fortis Bank, Fortis Investments and Von Essen Bank) have been provisionally accepted by the Belgian State and for the time being operated on.

Takeover plans BNP Paribas

On 6 October 2008, the French bank BNP Paribas announced its intention to acquire 75 or 67 percent of the Belgian and Luxembourg Fortis for 14.7 billion euros. Belgium and Luxembourg thus each retain a blocking minority on the Belgian and Luxembourg parts of the bank. BNP Paribas pays 9 billion euros of the purchase price by issuing new shares. Belgium and Luxembourg are thus 11.6 and 1.1 percent shareholder of BNP Paribas. The Luxembourg bank branch connects his 2005 discontinued name BGL ( Banque Générale du Luxembourg) with that of BNP Paribas. The insurance business of Fortis will be 100% funded by BNP Paribas.

BNP Paribas will take only 75 percent of the banking activities and 10 percent of the insurance activities of Fortis Belgian branch. After numerous Fortis small shareholders did not agree with this rescue plan, they went before a Belgian court. This Court ruled in December 2008 that all transactions must be subjected to an ordinary shareholder vote. This decision, like the Belgian Court of Cassation stated in a report that the government is trying to prevent. Because of accusations of influencing the court of Prime Minister Yves Leterme was forced to resign on 22 December 2008. A decision was made at the AGM on 11 February 2009.

At the General Meeting on 11 February 2009 approved a bare majority of 50.3 percent of the shareholders against a splitting of the Fortis Holding and against a partial sale to the Belgian state. This was also a resale of the Belgian Fortis Bank to BNP Paribas Fortis share gescheitert.Die then lost on Thursday initially 18 percent, stabilized later at a loss of 12 percent.

In Belgium shareholder representatives called now new negotiations between the Belgian State and BNP Paribas. They hoped for better conditions for a sale.

Patrick Wautelet, Professor of Law at the University of Liege, feared that the nationalization of Fortis claims for damages by the Chinese investor could trigger Ping An ( Ping An owns 4.81 percent). This would be in accordance with the agreement concluded between China and the Union économique belgo - luxembourgeoise investment protection agreements.

The Belgian government and BNP Paribas agreed on 7 March 2009 at a new takeover plan. Here, 75 percent of the Belgian bank should be adopted. The remaining 25 percent of the bank remain with the Belgian state. The BNP wants to pay 10.3 billion euros, but predominantly in equities. The Belgian State should get 11.6 percent of the BNP shares.

The Fortis Bank Belgium was to acquire a 25 percent stake in Fortis Insurance Belgium insurance. The funding of 1.375 billion euros should be guaranteed by BNP Paribas. The BNP Paribas would include the deposits of the Fortis Bank of 580 billion euros to take the case of the 1st Annual Meeting on April 28, 2009 in Ghent voted 73 per cent of shareholders for a takeover by BNP Paribas. In this case, 26.15 percent of the share capital was represented. At the 2nd Annual General Meeting on 29 April 2009 in Utrecht voted 78 per cent of shareholders for a takeover by BNP Paribas.

The lawyer Mishael Modrikamen declared on 12 May 2009 that he had filed a 25 -page complaint against the acquisition of Fortis Bank by BNP Paribas at the EU Commission on behalf of numerous shareholders. The EU Commission must still approve the Fortis acquisition.