Deutsche Bank announces acquisition
(21 October 2009 – Europe) Deutsche Bank has announced that it has signed an agreement with the Dutch Ministry of Finance to acquire parts of Algemene Bank Nederland-Amsterdam Rotterdam (ABN AMRO) bank’s commercial banking activities in the Netherlands.
The businesses to be acquired by Deutsche Bank are parts of ABN AMRO Business Unit Netherlands (BU NL) and include two corporate client units that provide a range of financial services to large corporate clients.
They will also receive as part of the agreement 13 commercial advisory branches that serve medium-sized clients; parts of the well-known Rotterdam-based bank Hollandsche Bank Unie N.V.; and the factoring services company IFN Finance B.V., the Dutch part of ABN AMRO’s factoring unit IFN Group Finance.
The Deutsch Bank has said in a media release that upon completion of the transaction it will become the fourth-largest provider of corporate and investment banking services in the country.
The transaction is subject to agreement by ABN AMRO, several authorisations of the Deutsche Bank Supervisory Board, De Nederlandsche Bank, the approval by the European Commission and other regulatory bodies.
They will also receive as part of the agreement 13 commercial advisory branches that serve medium-sized clients; parts of the well-known Rotterdam-based bank Hollandsche Bank Unie N.V.; and the factoring services company IFN Finance B.V., the Dutch part of ABN AMRO’s factoring unit IFN Group Finance.
The Deutsch Bank has said in a media release that upon completion of the transaction it will become the fourth-largest provider of corporate and investment banking services in the country.
The transaction is subject to agreement by ABN AMRO, several authorisations of the Deutsche Bank Supervisory Board, De Nederlandsche Bank, the approval by the European Commission and other regulatory bodies.
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