ABN AMRO announces completion of the sale of its private banking activities in Asia and the Middle East
April 30 2017 - 10:30AM
ABN AMRO announces completion of the
sale of its private banking activities in Asia and the Middle
East
On 6 December 2016, ABN AMRO announced
to have reached an agreement with LGT Group on the sale of ABN
AMRO's private banking activities in Asia and the Middle
East. The completion, subject to certain conditions, was
foreseen in Q2 2017. These conditions have been met and as a result
the sale was completed today.
The sale is expected to result in a
book gain (after provisions and expenses) between USD 210 million
(EUR 193 million) and USD 235 million (EUR 215 million) net of tax
in Q2 2017.
Completion sale private banking
activities Asia and the Middle East
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ABN AMRO via Globenewswire
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