Vestia and ABN AMRO reach agreement

Press release -

ABN AMRO Head Office

On 16 October 2015, Vestia and ABN AMRO reached a final agreement on the settlement of all derivatives transactions concluded between Vestia and ABN AMRO (including Fortis Bank (Nederland) N.V.). As part of the settlement, ABN AMRO will pay Vestia an amount of EUR 55 million. Vestia waives all further claims relating to these derivatives transactions. This settlement ends the dispute between ABN AMRO and Vestia.

On 18 June 2012, Vestia and ABN AMRO signed an agreement under which Vestia’s derivatives transactions were terminated. Under this agreement, both parties had reserved the right to institute legal proceedings against each other. In April 2015, Vestia commenced interlocutory proceedings against ABN AMRO and demanded documentation from ABN AMRO. This led to negotiations aimed at reaching a settlement. The settlement has now been finalised.

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