The FINANCIAL -- Deutsche Bank announced on October 20 that it has signed a heads of agreement with the Dutch Ministry of Finance to acquire parts of ABN AMRO's commercial banking activities in the Netherlands.
The assets to be acquired remain the same as those in the original agreement announced on July 2, 2008. Negotiations continue on final terms and conditions.
"Deutsche Bank continues to believe this combination would create a powerful platform for clients and employees. Already a leading corporate and investment bank in the Netherlands, it would become the fourth-largest provider of corporate and investment banking services in the country upon completion of the transaction, complementing its strong global position," Deutsche Bank informed.
The transaction is subject to agreement by ABN AMRO and several authorisations of the Deutsche Bank Supervisory Board, De Nederlandsche Bank, the approval by the EC and other regulatory bodies.
Related Stories
