NL Financial Investments (NLFI), which manages the investments of the Dutch government, has announced plans to offload an additional 7% stake in local banking group ABN Amro.
The latest sale will dilute the state’s holding in the bank to nearly 56% from 63%.
Go deeper with GlobalData
The stake sale is expected fetch approximately €1.6bn for the Dutch government, which nationalised ABN Amro in 2008.
The state will dispose up to 65 million of depositary receipts representing ordinary shares in the banking group. The government plans to sell its remaining holding in the bank over time.
Additionally, NLFI reached an agreement with the joint bookrunners whereby it will not sell the remaining shares that it owns in ABN Amro during the 60-day lock period post completion of the transaction.
In 2015, the bank was partially privatised through an initial public offering, where the government disposed a 23% stake. In June 2017, the government sold 65 million ordinary shares in ABN Amro, thereby diluting its stake in the bank to 63%.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
