Assured Guaranty to Buy Dexia's FSA Holding
Dexia plans to sell FSA Holding, its U.S. bond insurance business, to Assured Guaranty for $722 million.
Dexia SA
, based in Paris and Brussels, plans to sell FSA Holding, its U.S. bond insurance business, to
Assured Guaranty
(AGO) - Get Assured Guaranty Ltd. Report
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for $722 million.
The bank said Friday its financial products activity is excluded from the transaction.
Under the terms of the deal, Dexia will receive $361 million in cash and 44.6 million newly issued Assured Guaranty shares.
Dexia, meanwhile, reported it swung to a third-quarter loss of 1.5 billion euros, "reflecting a major negativeimpact from the financial crisis" of 2.2 billion euros. Last year, earnings were 439 million euros.
