RBC buys out Dexia stake

AquisitionRoyal Bank of Canada is to buy the other half of RBC Dexia Investor Services – the joint venture it launched with Belgium’s Dexia banking group in January 2006.

It will pay Dexia €837.5 million in cash.

The deal comes less than a year after Dexia needed support from the Belgian, French and Luxembourg states in 2001 after liquidity problems. Dexia is listed in each of the three countries.

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