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Fortis offer strengthens grip on Benelux market

Fortis offered to buy the 47% of Banque Generale du Luxembourg (BGL)it doesn't already own for E1.69bn, in a move to strengthen its position in its core Benelux market, reports the Wall Street Journal Europe.

By buying out the minority shareholdes in BGL, Fortis would consolidate its grip over Luxembourg's largest bank, ranked by total balance sheet.

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