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Fortis to Increase Stake in CGER-ALSK

October 4, 1993

BRUSSELS, Belgium (AP) _ The Belgian-Dutch insurance venture Fortis has agreed to buy enough shares in the Belgian state-owned bank and insurance holding company CGER-ALSK, to bring its stake to 49.9 percent, officials said Monday.

A Fortis official, who spoke on condition of anonymity, said Fortis would acquire an additional 24.9 percent in CGER-ALSK shares to add to its previously announced purchase of 25 percent.

The total cost of the 49.9 percent stake is 34.93 billion francs, or $1 billion.

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