Deutsche Bank Agrees to Buy ABN Assets From Dutch - by Martijn van der Starre and Aaron Kirchfeld
Deutsche Bank AG, Germany’s biggest lender, agreed to buy some ABN Amro Holding NV assets that the Netherlands must sell to satisfy European Union regulators. The assets are the same as those it agreed to buy from Fortis in July 2008, Frankfurt-based Deutsche Bank said in a statement on its Web site today. Negotiations on final terms and conditions continue, the lender said. Deutsch Bank agreed in 2008 to purchase ABN Amro’s commercial-banking operations from Fortis, the insurer that sold its banking divisions later that year to avert a collapse. The 709 million-euro ($1.06 billion) deal was scrapped after the Dutch government bailed out part of Fortis, including the stake in ABN Amro it bought in 2007.
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