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The RBS group wants to break up the lender into three parts, so that Belgian-Dutch bank Fortis would get ABN's Dutch operations, Spanish bank Banco Santander Central Hispano SA, acquires ABN's Brazilian and Italian arms, and RBS getting Chicago-based LaSalle.
FORBES: Magazine Article
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The RBS group wants to break up the lender into three parts, so that Belgian-Dutch bank Fortis would get ABN's Dutch operations, Spanish bank Banco Santander Central Hispano SA (nyse: STD - news - people ), acquires ABN's Brazilian and Italian arms, and RBS getting Chicago-based LaSalle.
FORBES: ABN's CFO Bolts
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As before, BNP will take a 75% stake in Fortis's Belgian bank, but instead of swallowing all of its Belgian insurance arm as well, it will take only 10% of that business.
ECONOMIST: Fortis
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Some had taken decisive action overnight: Belgium nationalized the Belgian assets of banking and insurance provider Fortis on Sunday, before selling a majority stake to French bank BNP Paribas, while Germany said it would guarantee all private deposits in the country.
FORBES: Magazine Article