ABN AMRO Press Release: Dutch State reduces stake in ABN AMRO Group to 70%
November 17 2016 - 12:36AM
Dutch State reduces stake in ABN
AMRO Group to 70%
Stichting Administratiekantoor Beheer Financiële
Instellingen (NL Financial Investments, "NLFI"), on behalf of the
Dutch state, agreed to sell 65 million depositary receipts
("Depositary Receipts") representing ordinary shares in ABN AMRO
Group N.V. ("ABN AMRO Group") for a price of EUR 20.40 per
Depositary Receipt. ABN AMRO will not receive any of the
transaction proceeds.
Following the settlement, the stake of NLFI
declines from 77% to 70%. NLFI has previously announced that it
intends to divest its remaining stake in ABN AMRO Group over
time.
Furthermore, NLFI has undertaken to the joint
bookrunners that the remaining shares in ABN AMRO Group held by
NLFI will be subject to a lock-up period of 90 calendar days
following the Settlement. This lock-up may be waived by the joint
bookrunners at their sole discretion.
Following Settlement, the Stichting
Administratiekantoor Continuïteit ABN AMRO Group (the "ABN AMRO
Trust Office") holds 30% of the ordinary shares in line with the
maximum possible under the most restrictive declaration of no
objection ("DNO") or similar regulatory approvals obtained at the
time of the IPO. For future sell-downs by NLFI, the ABN AMRO Trust
Office will need to obtain new DNOs and other regulatory
approvals.
ABN AMRO Press
Office
ABN AMRO Investor Relations
pressrelations@nl.abnamro.com
investorrelations@nl.abnamro.com
+31 20 628
8900
+31 20 628 2282
This document does not
constitute, or form part of, an offer to sell, or a solicitation of
an offer to purchase, any securities ( the "Securities") of ABN
AMRO Group N.V. (the "Company") in the United States. The
Securities of the Company have not been and will not be registered
under the U.S. Securities Act of 1933 (the "Securities Act") and
may not be offered or sold within the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities
Act.
Dutch State reduces stake in ABN
AMRO Group to 70%
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
Abn Amro (NYSE:ABN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Abn Amro (NYSE:ABN)
Historical Stock Chart
From Jul 2023 to Jul 2024