Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Deutsche Bank buys Dutch state bank

Share this article

Deutsche Bank buys Dutch state bank
Photo: DPA
07:55 CET+01:00
Germany's largest bank, Deutsche Bank, has completed its purchase of parts of state-owned Dutch lender ABN Amro for €700 million ($1 billion), ABN Amro said Wednesday.

The deal covers Hollandsche Bank-Unie, a unit specialising in precious metals, and an ABN Amro financial subsidiary, IFN Finance.

Deutsche Bank said on October 20 it had signed a letter of intent with the Dutch finance ministry to buy certain ABN Amro assets ahead of a merger between ABN Amro and Fortis Bank of the Netherlands.

The sale of the assets had been required by the European Union's executive commission to ensure that the merger did not violate competition regulations.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement