ABN Amro sale under investigation

If the Dutch central bank knew then what it knows now about the credit crisis it would probably not have given permission for the takeover of ABN Amro in 2007, finance minister Wouter Bos told the parliamentary finance committee on Thursday.

ABN Amro was taken over by Royal Bank of Scotland, Fortis and Santander for €71bn and then divided up. The sale, coupled with the credit crisis, brought Fortis into severe financial problems. Last year, the Dutch arm was nationalised.
An independent inquiry is currently under way into the takeover.

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