Bank of Scotland and Halifax set date for merger

Article Abstract:

Bank of Scotland PLC has set a date for its merger with Halifax Group PLC. The 28 billion pounds (45.6 billion euros) merger is expected to be completed by September 10, 2001.

Halifax Group PLC

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Nouveau Riche: Societe Generale, Paribas join forces in $17.2 billion deal

Article Abstract:

France's largest investment bank, Paribas S.A. merged with retail banker Societe Generale on Monday in a $17.2 billion deal that makes the entity, to be called SG Paribas, the second largest bank in Europe after UBS AG of Switzerland. The combined assets of the merging companies was 679 billion euros ($771.9 billion) in 1998. Andre Levy-Lang, Paribus' CEO, who will be SG Paribus' CEO until 2002, plans an increase in net income and earnings per share by 15% over the next 3 years. Business leaders like Philippe Jaffre of the oil group Elf Aquitaine says the merger will not make a difference to their company which already banks with international banks.

Comment:

France: Investment bank Paribas S.A. & retail bank Societe Generale merge to create largest bank in France, 2nd lgst in Europe

Investment Banking and Securities Dealing, Retail Banking Services, Investment Banking, France, Security brokers and dealers, Retail banking, Investment banks, Names, Societe Generale S.A., Paribas S.A., SG Paribas

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ABN Amro might seek to buy Gartmore; NatWest, Bank of Scotland moves are awaited

Article Abstract:

ABN Amro Bank NV has expressed interest in acquiring Gartmore, one of the largest asset managers in the United Kingdom, if the firm becomes available once a takeover offer for current owner National Westminster Bank PLC (NatWest) has been settled. NatWest received a GBP21 billion (Euro32.5 billion) hostile bid from Bank of Scotland PLC, which stated it would like to sell Gartmore and some other NatWest assets if its bid is successful. NatWest is deciding whether or not to sell Gartmore as part of its defense plan, due to be revealed to the public during the next week.

Asset sales & divestitures, Netherlands, National Westminster Bank PLC (London, England), ABN AMRO Bank N.V. (Amsterdam, Netherlands), Gartmore PLC

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