Belgo Factors, FMN Finance Housing and Ace Factors, the Belgian factoring companies, are merging today to form Fortis Commercial Finance NV. The new company will concentrate on credit management and advance financing of receivables. Fortis Commercial Finance Holding, which unites the Belgian, Dutch, French and UK factoring companies of Fortis, will take fourth place in the European market. In Belgium, it has a factoring turnover of BFr 163bn. This is a 63 per cent stake in the Belgian market, which makes it the Belgian market leader in its sector, followed by International Factors Belgium with 25 per cent.
De Financieel Ekonomische Tijd, Belgium, 23 June, 2000
