Dutch government to privatise ABN Amro
(22 November 2015 – Netherlands) The Dutch government is selling an 20 percent of its stake in ABN Amro in a move to privatise the lender, with the remainder planned to be sold in tranches.
The move will raise at least €3.3 billion (A$4.9 billion) in the largest European bank listing since the 2008 financial crisis.
The bank’s listing comes as the Dutch economy recovers from the 2008 financial crisis and as the government tries to move past ABN's costly nationalisation in 2008. ABN was rescued from a failed takeover by Royal Bank of Scotland, Santander and defunct Fortis.
Finance Minister Jeroen Dijsselbloem said that Dutch taxpayers are unlikely to recover the €22 billion cost of its bailout.
"There was a much larger price tag on the rescue of ABN Amro," said Dijsselbloem.
"We're just going to try to sell it for the best possible return."
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