Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Euronext Bruxelles  >  KBC Groep    KBC   BE0003565737


Real-time Quote. Real-time Tradegate - 10/21 04:59:47 pm
52.055 EUR   -2.66%
10/20 Irish domestic lenders seen paying slightly lower bank levy
10/11 KBC GROEP : fined 1.4m for rule breach concerning lending to person ..
10/11 KBC GROEP : Bank Ireland Plc fined EUR 1,400,000 by the Central Bank..
News SummaryMost relevantAll newsSector news 

KBC : closes the sale to J.C. Flowers & Co. of Fidea (Belgium)

share with twitter share with LinkedIn share with facebook
share via e-mail
03/30/2012 | 05:50pm CEST

Regulated information* - 30 March 2012 (5.45 p.m. CEST)

Today, 30 March 2012, KBC closed the previously announced transaction with affiliates of J.C. Flowers & Co. for the sale of its subsidiary Fidea, having received the necessary regulatory approvals.
The acquisition of Fidea represents an important investment in the Belgian market by J.C. Flowers & Co.

·         Fidea is a well-established player on the Belgian insurance market and a well-known brand. The company offers both life and non-life insurance products to private customers, the self-employed and companies. It sells its policies through independent insurance brokers and - within a bancassurance co-operation agreement - through Centea's and Crédit Agricole's network of bank agents.

  • J.C. Flowers & Co. is an international private equity group specialized in investments in the financial services sector. Through its affiliated investment funds, J.C. Flowers & Co. has owned and operated financial institutions, including insurance companies, across Europe for many years.
  • The Fidea brand and management team will be maintained and Fidea will continue to operate out of Antwerp. In order to ensure service level continuity, KBC will be providing, among other things, IT-related support to Fidea during the transition phase over the coming three years.


Jan Vanhevel, KBC group CEO: 'With the closing of the divestment of Fidea we are turning another page in the execution of the strategic plan we agreed with the European Commission. It is with regret that we say goodbye to our Fidea management and staff. I would like to thank them for their commitment and effort over the years and wish them every success."

Johan Thijs, CEO of KBC's Belgium Business Unit and Chairman of Fidea's Board of Directors: 'I am proud to see that the quality and skills of Fidea's staff and management have strongly contributed to the success and excellent reputation of the company in the many years that it was part of our group. I am convinced that J.C. Flowers & Co will be able to build on their expertise and will support Fidea in continuing its successful track record, to the benefit of all its stakeholders.'

J. Christopher Flowers, Chairman of J.C. Flowers & Co.: "We are very pleased to finalize our investment in Fidea. Fidea will be a strong addition to our portfolio of financial services companies, and we are eager to begin working with the management team toward a prosperous future as an independent company."

Edwin Schellens, Fidea CEO: 'As of today, Fidea will be working in a new ownership constellation, with a strong track record. We look forward to working with J.C. Flowers to develop together with us a new strategy as a stand-alone insurance company and will continue to deliver high quality service for our customers, brokers and bank agents, supported by our dedicated staff and our well-reputed brand".


Contact details

J.C. Flowers & Co.

  • Jordan Robinson, Managing Director, Investor Relations

Tel.: + 1 212 404 6844   jrobinson@jcfco.com:

KBC Group NV

  • Wim Allegaert, General Manager, Investor Relations

Tel.: + 32 2 429 40 51   wim.allegaert@kbc.be:

  • Viviane Huybrecht, General Manager, Group Communication/Company Spokesperson 

Tel.: + 32 2 429 85 45   pressofficekbc@kbc.be:
Follow KBC at www.twitter.com/kbc_group:

About Fidea
Fidea is one of the strongest insurance companies in Belgium and a renowned brand. It employs 316 people and operates through an extensive network of 380 independent brokers and 633 points of sale throughout Belgium run by Centea bank agents, with whom it has worked closely for many years.
At the end of 2009, KBC announced its updated strategy of focusing on its core bancassurance expertise in its home markets (in Belgium and Central Europe) and further reducing the risk profile of the group. As part of this updated strategy, KBC announced its intention to divest Fidea in Belgium.

About J.C. Flowers & Co.
J.C. Flowers & Co. LLC is a global investment adviser and private fund manager focused solely on the financial services industry.  Founded in 1998 by J. Christopher Flowers, the firm's funds have invested over $11 billion of capital across 13 countries worldwide, more than half of which has been invested in Europe.  J.C. Flowers is based in New York and has offices in London.

About KBC (www.kbc.com)
KBC is an integrated multi-channel bancassurance group, catering mainly for retail, SME and local midcap customers. It concentrates on its home markets of Belgium and certain countries in Central and Eastern Europe (Czech Republic, Slovakia, Bulgaria and Hungary). Elsewhere around the globe, the group has established a presence in selected countries and regions.
KBC provides banking, insurance and asset management products and services via its integrated distribution channel consisting of bank branches, insurance agents and brokers and the Internet. KBC's headquarters are located in Brussels (Belgium), the heart of Europe. The group employs more than 47 000 FTE (nearly 60% of whom in Central and Eastern Europe). KBC is listed on NYSE Euronext Brussels (ticker symbol 'KBC').
Follow KBC at www.twitter.com/kbc_group:





* This news item contains information that is subject to the transparency regulations for listed companies.

Fidea closing:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: KBC Groep via Thomson Reuters ONE

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on KBC GROEP
10/20 Irish domestic lenders seen paying slightly lower bank levy
10/11 KBC GROEP : fined 1.4m for rule breach concerning lending to person connected to..
10/11 KBC GROEP : Bank Ireland Plc fined EUR 1,400,000 by the Central Bank of Ireland ..
10/11DJMARKET SNAPSHOT : Go For The 'world's Biggest Contrarian Trade' And Buy European..
10/06DJMARKET SNAPSHOT : Go For The 'world's Biggest Contrarian Trade' And Buy European..
09/28 KBC GROEP : responds to entirely inaccurate presentation of facts in Workers' Pa..
09/13 KBC GROEP : revamps groupwide sustainability framework.
09/08 KBC GROEP : compliments its product range for young drivers
09/07 KBC GROUP : the 1H2016 half-year report of KBC IFIMA is available on kbc.com
09/06 KBC GROEP : Reaction on non-regulated savings accounts for legal entities
More news
Sector news : Banks - NEC
04:39pDJROYAL BANK OF CANADA : Chief Financial Officer to Retire
03:29pDJCITIZENS FINANCIAL : Says Revenue, Profit Rise on Loan and Deposit Growth
03:25pDJU.S. HOT STOCKS : Hot Stocks to Watch
01:12pDJSUNTRUST BANKS : Expenses Dim Profit for SunTrust Banks
11:21a Cautious Western insurers rebuild business ties with Iran
More sector news : Banks - NEC
News from SeekingAlpha
09/29 CEO Of Credit Suisse Says European Banks Are Uninvestable
08/16 KBC : Moving Towards A Higher Dividend Yield
08/11 KBC Group's (KBCSF) CEO Johan Thijs on Q2 2016 Results - Earnings Call Transc..
08/11 KBC Group SA reports Q2 results
08/11 KBC Group SA 2016 Q2 - Results - Earnings Call Slides
Financials (€)
Sales 2016 7 075 M
EBIT 2016 3 076 M
Net income 2016 2 153 M
Debt 2016 -
Yield 2016 5,42%
P/E ratio 2016 10,47
P/E ratio 2017 10,91
Capi. / Sales 2016 3,16x
Capi. / Sales 2017 3,12x
Capitalization 22 359 M
More Financials
Duration : Period :
KBC Groep Technical Analysis Chart | KBC | BE0003565737 | 4-Traders
Full-screen chart
Technical analysis trends KBC GROEP
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 57,8 €
Spread / Average Target 8,1%
Consensus details
EPS Revisions
More Estimates Revisions
Johan Thijs Group Chief Executive Officer & Executive Director
Thomas Leysen Chairman
Luc Popelier Group Chief Financial Officer & Executive Director
Franky C. Depickere Non-Executive Director
Frank Donck Non-Executive Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
KBC GROEP-7.27%24 383
JPMORGAN CHASE & CO.3.38%246 554
WELLS FARGO & CO-17.35%226 696
More Results