1. Various exteriors of Fortis headquarters in Brussels
2. Pan up from entrance to Fortis sign
3. Close of Fortis sign on wall
Brussels - 3 October 2008
4. Wide Yves Leterme, Belgian Prime Minister, and Didier Reynders, Belgian Finance Minister, entering news conference
5. Cutaway of cameraman
6. SOUNDBITE (French) Yves Leterme, Belgian Prime Minister:
"We reached an agreement by which the Fortis group gives to the Dutch state all of its activities on the Dutch territory, more specifically the activities of Fortis Bank Netherlands Holding, including the activities of ABN Amro and also the activities of Fortis Insurance Netherlands. The transaction on which we found an agreement pertains to a sum of 16.8 billion Euros and naturally this money input can preserve the solvency of the Fortis Group."
7. Cutaway of Leterme and Reynders
8. SOUNDBITE (French) Didier Reynders, Belgian Finance Minister:
"We had, with the three governments, announced last weekend, the will to be present in the bank activities of all three countries, for the three states. And we said that we would sell, that the Fortis group would then sell the participation in ABN Amro. We crossed another line, ABN Amro is indeed ceded, as well as the bank Fortis Netherlands and the insurance activities in Holland. This allows us to go further in the direction we had
9. Journalist asking question, pan to Leterme and Reynders
10. Reynders with reporters
11. SOUNDBITE (French) Didier Reynders, Belgian Finance Minister:
"In the case of Fortis Belgium we already had to realise an input of capital of 4.7 billion Euros, which had not yet been realised on the Dutch side and for now we are with this participation of 49.9 per cent. We also reinforced our presence by appointing a new person in charge of the group and we will see how this situation evolves in the next weeks or the next months - we will see. The most important thing is to guarantee the solvency and the liquidity of the group in the next weeks."
FILE: Brussels - 29 September 2008
12. Exterior of a Fortis branch
13. Woman withdrawing money at a Fortis cash point
The Belgian government said on Friday that the Dutch state would take control of troubled bank Fortis' Dutch operations, including its recent purchase of ABN Amro.
Belgian Prime Minister Yves Leterme told reporters that the Dutch government was paying 16.8 billion euros (23.2 billion US dollars) for the business, a price that will allow the Belgian arm of the bank to survive independently.
He said the sale would ensure the solvency of Fortis' core Belgian operations.
The Dutch government will buy both the banking and insurance divisions as well as the ABN Amro operations that Fortis aquired a year ago.
Reports said Fortis Luxembourg would also be fully nationalised.
The three governments partly nationalised the bank on Sunday, taking a 49 per cent stake in the bank's operations within each of their borders to save it from possible collapse.
Belgian Finance Minister Didier Reynders said the take over would also include the bank ABN Amro.
He added it was important the banking group was kept afloat.
"The most important thing is to guarantee the solvency and the liquidity of the group in the next weeks," he said.
The Dutch Finance Minister Wouter Bos had said the move to fully nationalise the bank's was needed to prevent its insolvency, despite the 11.2 billion euro (15.5 billion US dollar) bailout package announced on Sunday.
The plan announced on Friday will replace Sunday's bailout deal, in which Belgium, Netherlands and Luxembourg said they would take a 49-percent stake in the bank's operations within each of their borders.
Belgian Prime Minister Yves Leterme told reporters in Brussels the sale for the sum of 16.8 billion Euros would preserve the solvency of the Fortis Group.