ABN Amro gets more time to sell HBU

The European Commission has given ABN Amro more time to finalise the sale of several units, including Rotterdam-based HBU, the Financieele Dagblad reports.

The original deadline for the sale of HBU, 13 regional offices and two business centres was Monday, the paper says.
Competition commissioner Neelie Kroes has ordered the sale to reduce ABN Amro’s dominance of the medium-sized business sector.
At the weekend it emerged that the Dutch state, which owns ABN Amro, and HBU’s buyer Deutsche Bank would not make the deadline.
The paper says the government is keen to make sure Deutsche Bank pays enough for HBU. The less it pays, the more capital the government will have to put in to ABN Amro to make up its reserves.

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