RPT-BRIEF-Dexia sells U.S. unit FSA after heavy Q3 loss
(Repeats to attach to Reuters alerts)
BRUSSELS, Nov 14 (Reuters) - Dexia SA (DEXI.BR: Quote, Profile, Research): * Dexia (DEXI.PA: Quote, Profile, Research) (DEXI.BR: Quote, Profile, Research) Q3 loss 1.544 billion euros * Dexia agrees to sell FSA insurance business to Assured Guaranty (AGO.N: Quote, Profile, Research) * Says total consideration for deal $722 million * Dexia to get a 24.7 percent ownership in Assured Guaranty * Says plan to sell FSA holding is for total consideration of $722 million * Says financial products excluded from FSA sale - Dexia to cover first loss of $3.1 billion on top of $1.4 billion existing reserves as of Sept. 30, 2008. * Dexia Q3 net loss excluding all crisis impacts 647 mln euros * Says Q4 reported results will be adversely impacted but solvency will remain strong * Dexia says Belgian and French states to provide guarantee of the assets of fsa asset management * CEO says Dexia can "weather this deeply disturbed environment" * Dexia says launched 15 percent cost saving plan * EUR 300 million initial cost savings have already been identified, with significant savings achievable over 2009
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