February 2008

Deals of the year 2007: Big bet pays off for Fortis


Fortis’s equity market fund-raising for its part in the consortium bid for ABN Amro was big and bold, with brave backing from Merrill Lynch.


Santander’s Italian disposal is the Real dealAstraZeneca injects hopeNigeria clears the decksGCA reaches out to buy US peerMaxis maxes out Mexico motors on local-currency dealBovespa floats on the wave it made The stakes were high for Fortis when it turned to the equity market to raise more money than any institution had ever dared ask for before. On the line lay not just the once-in-a-lifetime opportunity for Fortis to pluck what it wanted from one of its greatest rivals but the future of the Netherlands’ flagship bank; the hopes of Barclays, the rival suitor for it; and the success of Fortis’s other consortium partners, whose own ambitions for parts of ABN Amro also rested on the bank’s ability to come up with its share of the cash....


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