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BULLETIN: BNP Paribas Signs Agreement to Acquire German On-Line Broker Consors Apr 02
Standard & Poors, April 2002
Abstract
Standard & Poor's said today that BNP Paribas' agreement to acquire Consors, the second-largest online stockbroker in Germany, will have no impact on the French bank's ratings or outlook (AA-/Stable/A-1+). The acquisition of Consors is line with BNP Paribas' strategy to strengthen its leadership in Europe in specialist financial services. The combination of Consors and BNP Paribas' subsidiary Cortal will give birth to the leading European specialist broker for private investors. Assuming that BNP Paribas purchases Consors' entire capital, the total investment will amount to -485 million. The acquisition will have a limited impact on BNP Paribas' financial profile, while doubling the size of assets managed by Cortal and its customer base. The acquisition is subject to appropriate regulatory approval....
Companies mentioned in this report are: BNP Paribas
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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