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Liedekerkes Corporate and Finance team advises SPFI/FPIM, the financial holding of the Belgian State

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03/05/2013
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Liedekerke’s Corporate and Finance team, and Thierry Tilquin in particular, have been advising SPFI/FPIM, the financial holding of the Belgian State.

In the past few weeks, Liedekerke’s Corporate and Finance team, and Thierry Tilquin in particular, have been advising SPFI/FPIM, the financial holding of the Belgian State:

- with respect to the reorganization of Royal Park Investments (RPI), the special purpose vehicle created by Fortis Holding (now Ageas), the Belgian State (acting through SFPI/FPIM) and BNP Paribas, to hold a portion of the structured credits portfolio of Fortis Bank, or the so-called "bad bank" of Fortis, including following up on the sale of the structured credit portfolio to the private equity firm Lone Star and Credit Suisse for a value of nearly EUR 7 billion, advising on the repayment of debt and on shareholder relations. The sale of RPI’s portfolio is an important chapter, coming as it does nearly five years after the rescue of the Fortis financial group.

Other advisers: Cleary Gottlieb Steen & Hamilton (advisers to BNP Paribas), Clifford Chance (for the government guarantees) and Loyens & Loeff (advisers to Royal Park Investments)

- on the acquisition of Ageas’s call option over shares in BNP Paribas, held by SFPI/FPIM on behalf of the State, for a consideration of EUR 144 million.

Other advisers: Linklaters