Fortis to expand?

Story seems to point that way

Fortis Real Estate plans international growth, 'too early' to comment on ABN

August 17, 2007: 05:05 AM EST

BRUSSELS, Aug. 17, 2007 (Thomson Financial delivered by Newstex) -- Fortis Real Estate, a fully-owned subsidiary of Belgo-Dutch bancassurer Fortis NV plans more international expansion, said CEO of the division, Alain Devos in an interview with Belgian financial daily L'Echo.

'Fortis has chosen to go down the road of international expansion and it's logical that Fortis Real Estate should follow the same path,' Devos said.

He added that the company is studying several options with a view to expanding its property portfolio and is working on an operating model where options include acquisitions and launching into new markets with a dedicated team.

Asked about the impact of an RBS-Fortis-Santander consortium acquisition of ABN Amro (NYSE:ABN) NV on the business, he said it is 'too early' to say but added that in any case the group would continue to work with the people 'who are capable of of best the judging the precise situation in their market'.