Credit Suisse (CS) and Texas-based Lone Star Funds have agreed to pay €6.7B ($8.7B) to acquire...

|About: Credit Suisse Group AG (CS)|By:, SA News Editor

Credit Suisse (CS) and Texas-based Lone Star Funds have agreed to pay €6.7B ($8.7B) to acquire the the assets of Royal Park Investments, a vehicle created in May 2009 to manage the toxic assets of Belgium's collapsed Fortis bank. The Belgian government, one of Royal Park's largest shareholders, will receive €1B, thereby allowing it to cut its debt by 0.2% of GDP. Fortis successor company Ageas, an insurer, will receive €1.04B. (PR)