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Provider: Reuters Investment Profile

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KBC Group NV Announces Proposed Sale of Treasury Shares as Part of Strategic Plan Agreed with European Commission

Monday, 15 Oct 2012 02:41pm EDT 

KBC Group NV (KBC) announced the proposed sale of its treasury shares held on its balance sheet and representing 5.1% of its total share count of 358 million shares via an institutional private placement by way of an accelerated bookbuilding limited to institutional investors. The Company's strategic plan, as approved by the European Commission in November 2009, included the sale, within an agreed timeframe, of 18.2 million treasury shares held by KBC on its balance sheet. 

Company Quote

-0.15 -0.39%
11:35am EDT