BRUSSELS, Belgium, July 4, 2005 (PRIMEZONE) -- Further to the approval of the transaction by all the relevant Turkish regulatory and governmental authorities, Fortis has acquired today full ownership of 89.34% of the shares of Disbank from the majority shareholders - Dogan Holding, Dogan family and the two pension funds of Disbank - for the agreed price of EUR 880 million (985 million at 100%) subject to price adjustment.As announced on 12 April 2005, Fortis will also make a public bid for the remaining 10.66% of Disbank's shares. The details and timing of the bid will be determined in compliance with the requirements of the Turkish capital market supervisor (the Capital Market Board) and the other relevant regulatory authorities.
Fortis
Fortis is an integrated financial services provider active in the fields of banking and insurance. With a market capitalization of EUR 29.8 billion (30/06/2005) and around 55,000 employees, Fortis ranks in the top 20 of European financial institutions. In its home market, the Benelux countries, Fortis occupies a leading position which it aims to develop and bolster. Fortis is drawing on the expertise it has acquired in its home market to realize its European ambitions via growth platforms. Fortis also operates successfully worldwide in selected activities. In specific countries in Europe and Asia it effectively exploits its know-how and experience in bancassurance. Fortis is listed on the exchanges of Amsterdam, Brussels and Luxembourg and has a sponsored ADR programme in the United States. More information is available on www.fortis.com
Fortis in Turkey
Fortis has been present in Turkey since 1987 when it opened a Representative Office in Istanbul. It engages mainly in Merchant Banking (Global Export and Project Finance, Institutional Banking and Funds, Global Markets, Corporate Banking) and Commercial Banking. MeesPierson opened a representative office in 2004, mainly dealing with Trust matters.
Disbank
Disbank is Turkey's seventh largest privately owned bank with total assets of EUR 4.1 billion as of 31 December 2004. It is also one of Turkey's best rated banks. It is well positioned in Commercial and Corporate Banking and has a strong presence in Retail Banking, with over one million customers - of which about 120,000 are small enterprises, and 10,000 are Commercial Banking clients (medium sized enterprises) - and over one million credit cardholders ("Ideal" credit cards). It has a network of 173 branches, six of which are strategically located Business Centres.