Positive outcome from European Commission negotiations 
Published on  : 06/02/2010 

Press release

 

• Agreement with the European Commission on Dexia’s restructuring plan:
          - Acknowledgment of the significant achievements in Dexia’s transformation plan
          - Confirmation of a 15% cost reduction objective
          - Recognition of deleveraging progress to date and Dexia’s ability to carry on
          - Divestment of Dexia Crediop, Dexia Sabadell and Dexia Banka Slovensko in the next three years
          - Restrictions on dividends, hybrids and acquisitions for the next two years
 
• By 2014, Dexia’s balance sheet will be reduced by 35%
 
• On June 30, 2010, the Group will have exited from State Guarantees on funding
 
• Based on a soundly funded balance sheet, Dexia will work on extracting the full potential from its historical franchises, whilst developing its Turkish operations.

 

Click here to read the press release.