RiskMetrics Advises Voting In Favor Of Fortis/BNP Paribas
April 24 2009 - 1:17PM
Dow Jones News
Financial consultancy and risk management company RiskMetrics
Group Inc. (RMG) has advised its customers to vote in favor of the
deal between Fortis Holding NV (FORB.BT) and BNP Paribas (BNP.FR),a
RiskMetrics spokeswoman told Dow Jones Newswires Friday.
RiskMetrics is a worldwide operating advisor for many
institutional investors. A spokeswoman for Fortis Holding told Dow
Jones Newswires that several of Fortis' institutional shareholders
are among RiskMetrics' customers.
Fortis shareholders vote next week on a proposed deal between
the Belgian government, Fortis Holding and French bank BNP Paribas
to sell a majority of Fortis BankBelgium to the French bank.
In February, Fortis shareholders voted against an earlier deal
with BNP Paribas by a narrow margin. Dutch pension fund ABP, which
holds 3% of Fortis, abstained in that vote.
A spokeswoman for RiskMatrics in Brussels said it advised voting
in favor of the proposed Fortis-BNP Paribas deal because it is the
best option for Fortis' shareholders.
She declined to provide details of which customers it
advised.
-By Bart Koster; Dow Jones Newswires; +31 20 571 5201;
bart.koster@dowjones.com