ABN Amro may sell Brazilian unit: media

ABN Amro and Barclays are working on plans to sell ABN Amro’s Brazilian activities, various media reported on Monday.

A sale would help to offset the higher bid for ABN Amro made by the banking consortium led by Royal Bank of Scotland, sources told the Financieele Dagblad. The ABN Amro-Barclays deal also involves the sale of LaSalle to Bank of America.
UK Sunday paper The Observer said the consortium aimed to put a €70bn offer for ABN Amro on the table this week. ABN Amro has already accepted a €63bn offer from Barclays, including the sale of LaSalle for $21bn. But the Dutch courts have frozen the sale of the US unit until shareholders have had their say.
Analysts said the sale of Banco Real in Brazil was a logical move.

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