SNS Reaal on takeover trail

Banking and insurance group SNS Reaal booked a 15% increase in net profit last year to €371m. Total sales were up 2.5% at €3.57bn. The group also said an acquisition was ‘extremely likely’ this year.

‘We have the capital but it takes two to tango,’ chairman Sjoerd van Keulen told ANP. SNS Reaal has some €400m to spend but a new share issue could also be an option to fund a bigger takeover, Van Keulen said.

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