The Brussels Court of Appeal confirms the full rejection of Patrinvest's claim

The Brussels Court of Appeal today issued a decision in which it confirms that Fortis' prospectus for the 2007 capital increase was correct and complete, thereby rejecting Patrinvest's claims.

In September 2012, Patripart, a former shareholder of Fortis, and its parent company, Patrinvest, brought an action for damages before the Brussels Commercial Court on alleged incomplete and/or misleading information in Fortis' prospectus on the September 2007 capital increase.

In the decision of 1 February 2016, the Commercial Court of Brussels rejected the claims of Patrinvest (which had in the meantime merged with Patripart). Patrinvest subsequently appealed against this decision.

The Brussels Court of Appeal today upheld the judgment of the first instance, ruling in its decision issued today that the prospectus contained a true and fair view of Fortis' situation and the risks faced by the company, in particular with regard to the acquisition of ABN Amro, the subprime portfolio and the solvency and liquidity position.

Ageas is a Belgian rooted listed international insurance Group with a heritage spanning of 200 years. It offers Retail and Business customers Life and Non-Life insurance products designed to suit their specific needs, today and tomorrow, and is also engaged in reinsurance activities. As one of Europe's larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up a significant part of the global insurance market. It operates successful insurance businesses in Belgium, the UK, Portugal, Türkiye, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines through a combination of wholly owned subsidiaries and long-term partnerships with strong financial institutions and key distributors. Ageas ranks among the market leaders in the countries in which it operates. It represents a staff force of about 50,000 people and reported annual inflows of EUR 18.5 billion in 2024.

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