Dutch cabinet presses ahead with ABN Amro sale
The government is pressing ahead with its plans to float part of nationalised bank ABN Amro on the stock exchange in the final three months of this year, the state participation agency said in a statement on Tuesday.
The IPO will take place as long as there are no ‘unforeseen circumstances’, the NLFI and bank said.
The flotation has been approved by parliament and both the Dutch and European central banks say they have no objections to the sale.
The pending IPO has led ABN Amro to publish its Q3 figures on November 9, rather than November 13 as planned. The state has not yet decided how much of the bank will be sold in the first tranche, but analysts expect it will raise between €3bn and €5bn, the Telegraaf reports.
ABN Amro was nationalised in 2008 after a botched takeover by a consortium of three banks. The rescue package cost taxpayers some €30bn, of which around half will be recouped via the sale.
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