Fortis Carbon Banking Services - Acquisitions

Acquisitions

• MeesPierson N.V. was acquired in 1996 from ABN AMRO, giving Fortis an instant presence in investment banking
• Algemene Spaar- en Lijfrentekas / Caisse Générale d'Epargne et de Retraite (ASLK/CGER) acquired in 1999 by Fortis
• Générale de Banque / General Bank (Generale Bank/Générale de Banque) was acquired in 1999 by Fortis
• Krediet aan de Nijverheid / Crédit à l'Industrie, (now called Fintro)
• In early 2005, Fortis put Belgolaise, its sub-saharan Africa subsidiary, up for sale. Failing to find a suitable buyer, Fortis ceased all operations after October 23, 2006.
• In October 2006, Fortis signed a joint venture with An Post (Irish postal service) to provide financial related services through the An Post network of offices.
• In October 2006, Fortis acquired 100% of Polish retail bank, Dominet, which is full service retail bank with 806 employees and over 125 branches and franchises and is also in strong position in the car finance segment such as car loans.
• Pacific Century Insurance Holdings was acquired in 2007, now called Fortis Insurance Company (Asia) Limited
• On October 8, 2007, a consortium of three European banks, Royal Bank of Scotland Group, Fortis and Banco Santander, announced the acquisition of ABN AMRO. After the split, Fortis would get the retail and business activities in the Benelux and the international investment company; integration of the retail activities into Fortis Bank to be subject to permission of De Nederlandsche Bank (DNB); the business activities to be re-sold because of EU-regulations on market share.
• On October 3, 2008, an announcement was made that the Dutch Government had agreed with the Belgian Government to buy Fortis Bank Nederland, Fortis Verzekeringen Nederland and Fortis Corporate Insurance
• On October 5, 2008, the Belgian Government announced to have bought Fortis Bank Belgium, and to have re-sold 75% of it to BNP Paribas, which also bought Fortis Insurance Belgium. The Government of Luxembourg holds a third part of Fortis Banque Luxembourg. The actual Fortis Group itself remained as a virtual empty shell, holding only Fortis Insurance International, which holds insurances in Europe and Asia.
• On December 12, 2008, a court decision (see below) made the sales of October 3, 5 and 6 contingent on shareholder approval (at the latest on February 12). Until that time, the Dutch government holds the parts it bought, Fortis Bank is the property of the Belgium government, while Fortis Insurance Belgium remains with Fortis Group (together with Fortis Insurance International). On February 11 the shareholders declined to approve the sales, making the sales illegitimate; actual ownership of the various parts may well become a matter of further negotiations and/or litigation. A re-negotiation led to new deal, subject to shareholder approval (meeting at April 8 and 9).