wsj_0713.xml
WSJ891027-0182
WSJ891027-0182
=
891027
=
891027
891027-0182
.
891027-0182
.
Dresdner
Bank
Acquisition
Dresdner
Bank
Acquisition
10/27/89
10/27/89
10/27/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
EUROP
DRSDY
F.SGF
EUROP
DRSDY
F.SGF
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
BANKS
(
BNK
)
TENDER
OFFERS
,
MERGERS
,
ACQUISITIONS
(
TNM
)
BANKS
(
BNK
)
FRANKFURT
,
West
Germany
FRANKFURT
,
West
Germany
West
German
and
French
authorities
have
cleared
Dresdner
Bank
AG
's
takeover
of
a
majority
stake
in
Banque
Internationale
de
Placement
-LRB-
BIP
-RRB-
,
Dresdner
Bank
said
.
The
approval
,
which
had
been
expected
,
permits
West
Germany
's
second-largest
bank
to
acquire
shares
of
the
French
investment
bank
.
In
a
first
step
,
Dresdner
Bank
will
buy
32.99
%
of
BIP
for
1,015
French
francs
-LRB-
$
162
-RRB-
a
share
,
or
528
million
francs
-LRB-
$
84.7
million
-RRB-
.
Dresdner
Bank
said
it
will
also
buy
all
shares
tendered
by
shareholders
on
the
Paris
Stock
Exchange
at
the
same
price
from
today
through
Nov.
17
.
In
addition
,
the
bank
has
an
option
to
buy
a
30.84
%
stake
in
BIP
from
Societe
Generale
after
Jan.
1
,
1990
at
1,015
francs
a
share
.