28/04/2013 00:19:00

Credit Suisse, Lone Star to Buy Fortis Bad Bank - Bloomberg News

Credit Suisse Group AG (CS, CSGN.VX) and Lone Star Funds LLC will pay 6.7 billion euros ($8.7 billion) for the assets of Royal Park Investments, a vehicle set up to manage toxic assets of failed Belgian bank Fortis, Bloomberg News reported Saturday on its website. Belgium will get EUR1 billion in cash from the sale, Finance Minister Koen Geens said in an e-mailed statement, according to the report. Ageas, the insurer formerly known as Fortis, will receive EUR1.04 billion.

Full story: https://www.bloomberg.com/news/2013-04-27/credit-suisse-lone-star-to-buy-fortis-bad-bank.html

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(END) Dow Jones Newswires

April 27, 2013 19:19 ET (23:19 GMT)

Copyright (c) 2013 Dow Jones & Company, Inc.

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