CVC is leading group to rescue SNS Reeal: Financieele Dagblad
Thursday 31 January 2013
British venture capital group CVC Capital Investment is leading the consortium which is in rescue talks with Dutch financial services group SNS Reaal, the Financieele Dagblad reports on Thursday.
The Financieele Dagblad says CVC and a number of other groups are looking to take over SNS Reaal, if it proves possible to split off the loss-making property division. These include health service pension fund PGGM.
In addition, if objections from Brussels can be overcome, the three big Dutch banks ING, ABN Amro and Rabobank could also have a role.
SNS has declined to comment further on the claims other than to issue a statement saying it is in talks with private investors. ‘There have been intensive talks over the past few days but there is absolutely no guarantee they will bring results,’ the statement said.
CVC is one of the biggest private investment groups in the world. In the Netherlands it has interests in building company Volker Wessels Stevin, waste processor Van Gansewinkel and paper manufacturer Smurfit Kappa.