Deutsche Bank to acquire Hollandsche Bank (HBU) and IFN Finance from ABN AMRO

Germany-based Deutsche Bank AG has signed a heads of agreement with the Dutch Ministry of Finance to acquire parts of ABN AMRO's commercial banking activities in the Netherlands.

As per the agreement, Dutch Ministry of Finance has agreed to sell Hollandsche Bank Unie NV (HBU) and IFN Finance B.V. to Deutsche Bank.

The assets to be acquired remain the same as those in the original agreement announced on July 2, 2008.

Earlier, on July 2, 2008, Deutsche Bank had entered into an agreement to acquire ABN AMRO's commercial banking activities in the Netherlands for EUR709 million in cash.

On December 12, 2008, De Nederlandsche Bank (DNB), the Dutch central bank, announced that ABN AMRO no longer considers valid the sale of part of its Dutch assets to Deutsche Bank AG, an investment bank, to comply with antitrust concerns.

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Announced: 2009-10-20

Deal Participants

Target 1 (Company) IFN Finance B.V.
Target 2 (Company) Hollandsche Bank Unie NV
Acquirer (Company) Deutsche Bank AG
Vendor (Company)   ABN AMRO Bank N.V.

Deal Rationale

The acquisition will strengthen Deutsche Bank's position as a provider of corporate and investment banking services in the Netherlands.

Related terms: acquisition, antitrust, bank, banking, commercial, corporate, finance, germany, investment bank, investment banking