The Ministry of Finance today reached a Heads of Agreement with Deutsche Bank on the sale of HBU (NEWbank) and IFN Finance. The agreement is submitted to the European Commission. The European Commission decided today to grant an extension to reach a definitive agreement.
If the Heads of Agreement leads to a definitive agreement, it will be subject to approval by various bodies, such as the Supervisory Board and Managing Board of ABN AMRO Bank N.V. and the Lower House of the Dutch Parliament.
ABN AMRO has examined the Heads of Agreement and will cooperate fully to ensure that a contract of sale is concluded. It is not yet possible to identify the financial implications for the bank. Information will be released as soon as relevant.
ABN AMRO Press Relations
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This press release refers to the press release entitled 'Heads of Agreement with Deutsche Bank', issued by the Ministry of Finance on 20 October 2009. The full text of the press release of the Ministry of Finance is available from: www.minfin.nl