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Rabobank and SNS Reaal Groep buy Bouwfonds.
(From Banking Newslink)
Rabobank and SNS Reaal Groep are buying the Bouwfonds units from ABN AMRO. Rabobank is to buy the asset management and real estate development part of the Bouwfonds operation for €845m. SNS is to pay €840m for the property funding arm with the exception of Rijnlandse Bank which Rabobank is to take. The total gained by ABN AMRO is therefore €1,685m = GBP1,153m $2,151m YEN245.7bn).
The Bouwfonds auction is part of the major sale of assets undertaken by ABN AMRO over the last 2-3 years. ABN …
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