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ABN to Sell Assets to Deutsche Bank After All, Telegraaf Says
2009-05-20 09:42:05.805 GMT
By Martijn van der Starre
May 20 (Bloomberg) -- ABN Amro Holding NV will sell some
assets to Deutsche Bank AG within two months to satisfy European
Union requirements, De Telegraaf reported today, citing Chairman
Gerrit Zalm.
Alternatives to the transaction have been "put aside,"
the Dutch newspaper quoted Zalm as saying. ABN Amro, which had
canceled the transaction, may get less than the 709 million
euros ($967 million) originally agreed because Zalm wants to get
rid of a clause forcing the Dutch bank to provide credit risk
coverage for clients moving to Deutsche Bank, De Telegraaf said.
Deutsche Bank spokesman Christian Streckert declined to
comment when contacted by Bloomberg News. ABN Amro spokesman
Jeroen van Maarschalkerweerd didn’t immediately return a phone
call seeking comment.
ABN to Sell Assets to Deutsche Bank After All, Telegraaf Says
2009-05-20 09:42:05.805 GMT
By Martijn van der Starre
May 20 (Bloomberg) -- ABN Amro Holding NV will sell some
assets to Deutsche Bank AG within two months to satisfy European
Union requirements, De Telegraaf reported today, citing Chairman
Gerrit Zalm.
Alternatives to the transaction have been "put aside,"
the Dutch newspaper quoted Zalm as saying. ABN Amro, which had
canceled the transaction, may get less than the 709 million
euros ($967 million) originally agreed because Zalm wants to get
rid of a clause forcing the Dutch bank to provide credit risk
coverage for clients moving to Deutsche Bank, De Telegraaf said.
Deutsche Bank spokesman Christian Streckert declined to
comment when contacted by Bloomberg News. ABN Amro spokesman
Jeroen van Maarschalkerweerd didn’t immediately return a phone
call seeking comment.
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