BBV to boost share capital for purchases

Article Abstract:

Banco Bilbao Vizcaya SA (BBV) will raise its share capital in order to finance its acquisition of Provida SA of Chile and Consolidar of Argentina. BBV is raising its share capital by 1.6%. Provida is a pension fund manager, while Consolidar is a pension fund and insurance group. BBV will acquire controlling shares in Corp Group Pensions Ltd. The company will also buy stock in Ecuadorian, Peruvian, Colombian, Mexican, and El Salvadorian pension funds.

Comment:

To raise share capital by 1.6% to finance acquisitions

Strategy & planning, Spain, Banco Bilbao-Vizcaya S.A.

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KBC abandons capital increase

Article Abstract:

Belgium-based KBC NV cancelled a proposed 500 million euros capital increase following the drop of its share value since the start of the 1999 year. The cancellation of the capital increase hurts KBC's ambition to transform itself into a major banking and insurance presence in the European marketplace. The proposed capital increase was designed to provide financing for the company's recent takeovers.

Netherlands, KBC Bank N.V.

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Bank Austria-led group assists Austrian Airlines

Article Abstract:

Austrian Airlines has received financial assistance from Bank Austria by purchasing 1.6 million shares of the airline's stock from Nippon Airways. The move increases Bank Austria's stake in the company to 10%. The move is meant as a long-term investment for the financial institution. The airline had been facing the threat of losing national-carrier status prior to the bank's increased investment.

Comment:

Austrian Airlines receives financial assistance from Bank Austria.

Austria, Receipt of funds, Scheduled Airlines, Scheduled Air Transportation, Securities issued, listed, Airlines, Austrian Airlines, Oesterreichische Nationalbank

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