Dutch Min Fin Reaches Agreement With Deutsche Bank

Date : 10/20/2009 @ 6:59AM
Source : Dow Jones News
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Dutch Min Fin Reaches Agreement With Deutsche Bank

   By William Launder and Bart Koster 
   Of DOW JONES NEWSWIRES 

Germany's Deutsche Bank AG (DB) and the Dutch Finance Ministry on Tuesday said they had signed a preliminary deal for Deutsche Bank to acquire parts of state-owned ABN Amro's commercial banking operations in the Netherlands.

Deutsche Bank said the deal will make it the fourth-largest commercial and investment bank in the Netherlands.

The deal likewise helps the Dutch government resolve competition concerns raised by the European Commission following its takeover of Fortis Bank NL and ABN Amro last year.

The deal must be submitted to the European Commission for further approval, the Dutch Finance Ministry said.

A price for the transaction wasn't disclosed, but Deutsche Bank said the assets to be acquired remain the same as those in a deal between the Dutch government and Deutsche Bank that fell through last year.

Company Web site: http://www.db.com

-By William Launder and Bart Koster; Dow Jones Newswires; +49 69 29 725 515; william.launder@dowjones.com

 
 

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