NAB quits bidding for ABN Amro units

The bank gave no explanation for its withdrawal in its statement. The decision leaves Commonwealth Bank of Australia as the leading Australasian contender, the Sydney Morning Herald reported today.

The units could fetch A$500 million to A$1.3 billion, the Herald said, citing market observers. ABN Amro Australia Holdings made a profit of A$131 million last year, up 96% from the previous year.

Among the businesses for sale would be a half stake in ABN AMRO Craigs, which is owned 50-50 by senior employees of the firm and ABN Amro Holdings. Bank of Scotland acquired ABN Amro assets last year for about 14 billion euros.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Geneva Finance Limited (NZX: GFL) Half Year Results
The New Zealand Refining Company Limited (NZX: NZR) NZ announces equity raising
Asset Plus Limited (NZX: APL) Result for the six months ended 30 September 2021
Me Today Limited (NZX: MEE) 30 September 21 Results and Conditional Placement
Oceania Healthcare Limited (NZX: OCA) Delivers Improved Performance Despite COVID-19
29th November 2021 Morning Report
Radius Residential Care Limited (NZX: RAD) Announces Half Year Results of FY22
NZ Automotive Investments Limited (NZX: NZA) Interim Results for Half Year 2022
Greenfern Industries Limited (NZX: GFI) Releases Interim Results
Hallenstein Glasson Holdings Limited (NZX: HLG) Announcement of Final Dividend