Dutch government nationalises Dutch activities of Fortis

0 Comments | AFP, October, 2008

THE HAGUE (AFP) — The Netherlands government nationalised the Dutch activities of embattled Belgian-Dutch banking group Fortis Friday in a 16.8 billion euro deal to ease pressures from the global financial crisis.

The 23.5 billion dollar purchase sees the government take control of Fortis' Dutch banking and insurance activities, as well as of its share in Dutch bank ABN Amro.

"The government of the Netherlands is now the 100 percent owner of Fortis' Dutch activities," Dutch Finance Minister Wouter Bos told reporters in The Hague.

"Important financial activities are being conserved for the Netherlands but above all, bank clients can rest assured knowing that their money is in safe hands."

All Fortis' Dutch savings accounts, its mortgage portfolio and...