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Image header Agence Europe
Europe Daily Bulletin No. 8160
Contents Publication in full By article 27 / 47
GENERAL NEWS / (eu) eu/commission

Belgian government should find EUR 670 million for renovation of Berlaymont after withdrawal of private shareholder, Fortis

Brussels, 27/02/2002 (Agence Europe) - The Belgian Minister for Public Investment, Rik Daems, is expected, by 31 March, to find EUR 670 million so that the renovation of the Berlaymont, the building of the European Commission in Brussels, may be continued (as existing credit lines expire at that date). The Belgian-Dutch financial group, Fortis, no longer wants to cofund the cost of renovation or continue to participate in the capital of the real estate company responsible for the Berlaymont 2000 project. The Belgian authorities hold 70% of the capital of Berlaymont 2000, Fortis and the Dexia banking group are the two private shareholders with 30%. This decision by Fortis to withdraw is the result of a series of internal conflicts, but also of the publication, in January, of a report by two Belgian Senators mainly affirming that the cost of renovation was five times higher than the budget planned and that the programme was six years behind schedule.

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