July 2, 2008

Fortis, ABN AMRO and Deutsche Bank agree on sale of parts of ABN AMRO Business Unit Netherlands

Fortis, ABN AMRO and Deutsche Bank announced today that they have signed an agreement by which Deutsche Bank will acquire from ABN AMRO parts of its commercial banking activities in the Netherlands for EUR 709 million in cash.

The businesses to be acquired by Deutsche Bank are part of ABN AMRO Business Unit Netherlands (BU NL) and include two corporate client units that provide a range of financial services to large corporate clients; 13 commercial advisory branches that serve medium-sized clients; parts of the well-known Rotterdam-based bank Hollandsche Bank Unie N.V.; and the factoring services company IFN Finance B.V., the Dutch part of ABN AMRO’s factoring unit IFN Group Finance.


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Press Release