Deutsche Bank, Morgan Stanley and ABN Amro itself will be paid a combined maximum fee of €4.5m for their role in ABN Amro’s partial flotation later this year.
The exact size of the fee will be decided after the flotation, said the government’s finance agency NLFI, which manages the state’s stakes in companies.
In addition, the banks will be paid travel expenses for their work as global coordinators. Traditionally, banks involved in IPOs are paid a percentage of the value of the shares.
At the end of August, the NLFI will announce which banks have been selected as bookrunners and co-lead managers.
In May, the cabinet agreed ABN Amro is to be sold off in several blocks and the first bundle of shares will likely be floated in the final quarter of this year.
ABN Amro was nationalised in 2008 following its takeover by a consortium of other banks. The state hopes to earn €15bn from the sale, less than half the total bill for its rescue.
Thank you for donating to DutchNews.nl
The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.
DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.