Dutch State to Cut ABN Amro Stake to 10.5% in Fifth Sell-Down Plan
ABN Amro said on Wednesday, October 7, that the Dutch government will reduce its stake in the bank to 10.5% from 20.7% by selling certificates of shares, under a fifth trading plan aimed at further cutting the state's holding.
The lender said its relationship agreement with the Dutch state's investment vehicle NLFI, which grants it certain information rights, will be terminated once the government's stake falls below 10%. NLFI is the vehicle through which the state holds its bank shares.
The Dutch state took its ABN Amro stake during financial-crisis-era rescues of the banking sector and has been gradually selling down through successive trading plans in recent years. The move to 10.5% marks another substantial step in that exit.
ABN Amro, headquartered in Amsterdam, is one of the Netherlands' three largest banks. The sell-down will be executed in tranches under the trading plan.
Published by GSM · USA (original Chinese edition)
Photo: 图片 Image: ABN AMRO Headquarters Amsterdam.jpg by Steven Lek (CC BY-SA 4.0，经维基共享资源）/ via Wikimedia Commons
