BG Bank, Realkredit say they will merge
Article Abstract:
BG Bank AS and RealKredit Danmark have agreed to merge in a deal creating Denmark's biggest financial institution with 530 billion Danish kroner ($77.48 billion) in total assets. Under the terms of the agreement, BG, Denmark's third-largest retail bank, will take a 45% stake in a new joint holding company, known as Kapital Holding. RealKredit, the country's second-biggest mortgage lender, will take a 55% stake. After its creation, the joint holding company will launch a three-billion-kroner buyback of BG shares at a tentative price of 490 kroner each. Analysts welcome the deal, which, they say, shuts Unidanmark AS out of the picture. Unidanmark, Denmark's second-largest retail bank, was reportedly interested in buying BG.
Comment:
Agrees to merge with BG Bank, creating Denmark's biggest financial institution
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Italian banks look to consolidate
Article Abstract:
The banking industry of Italy is expected to pursue consolidation, despite the collapse of the merger talks between Banca Commerciale Italiana and Banca di Roma. Following the break-up of the merger talks between the two banks, Banca Intesa's stock rose due to speculations that it would acquire Cassa Di Risparmio di Parma, as well as a small northeastern bank, Friuladria. Leonardo Robattu, an analyst with Societe Generale in Paris, France, said that Italy's banking sector will have significant operational deals between major banks and regional banks, since having a strong regional presence is an important factor in operating a retail bank in the country.
Comment:
Italy: The banking industry is expected to pursue consolidation & operational deals between major banks and regional banks
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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