Bloomberg News

ABN Amro Will Appeal European Union Ban on Larger Acquisitions

July 06, 2011

July 6 (Bloomberg) -- ABN Amro Group NV will appeal a European Union imposed ban on larger acquisitions as it may limit the state-owned Dutch lender’s flexibility after a partial exit by the government.

“We want to be as flexible as possible,” Arien Bikker, a spokesman for the Amsterdam-based bank, said by telephone today. The appeal is on legal grounds, Bikker also said.

The takeover ban was one of the EU conditions for approving ABN Amro’s 2008 bailout. Dutch Finance Minister Jan Kees de Jager has indicated he plans to sell ABN Amro shares as early as 2014, preferably through a stock exchange listing.

To contact the editor responsible for this story: Martijn van der Starre at vanderstarre@bloomberg.net


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