Fortis statement on transaction with government of the
Netherlands
The State of the Netherlands fully acquires Fortis Bank
Nederland
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
EDITED PRESS RELEASES
Fortis statement on transaction with government of the
Netherlands
Dutch government acquires Fortis Bank Nederland (Holding) N.V.,
including Fortis’ interest ABN AMRO Holding N.V., and the Dutch
Insurance activities
- Government of the Netherlands acquired Fortis Bank Nederland
(Holding) N.V. including the participation in RFS Holdings B.V.
that represents the acquired activities of ABN AMRO, Fortis
Verzekeringen Nederland N.V., and Fortis Corporate Insurance
N.V. - Total consideration of €16.8 billion
- The Dutch Central Bank has approved the transaction
- After this transaction, Fortis Group entails Fortis Insurance
Belgium, Fortis Insurance International and the banking activities
excluding Fortis Bank Nederland (Holding) N.V.
The Government of the Netherlands has acquired Fortis Bank
Nederland (Holding) N.V., including the participation in RFS
Holdings, that represents the acquired ABN AMRO activities, Fortis
Verzekeringen Nederland N.V., and Fortis Corporate Insurance N.V.
for a total consideration of €16.8 billion.
The transaction replaces the previously announced investment
of €4 billion in Fortis Bank Nederland Holding N.V..
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe State of the Netherlands fully acquires Fortis Bank
Nederland, Fortis Insurance Netherlands, Fortis Corporate Insurance
and the Fortis share in ABN AMRO Holding
In close consultation with De Nederlandsche Bank (DNB), the
Minister of Finance today took over all shares of Fortis Bank
Nederland (Holding) NV, Fortis Insurance Netherlands NV and Fortis
Corporate Insurance NV.
The shares were acquired from the listed companies Fortis SA/NV
and Fortis NV, for a total of EUR 16.8 billion. The Dutch state has
thus become owner of the Fortis share in ABN AMRO Holding NV as
well. This agreement, which replaces the 49 percent participation
agreement reached last weekend, was concluded in Brussels by the
Dutch, Belgian and Luxembourg governments, the supervisors and
Fortis.
Fortis Bank Nederland (Holding) NV and the Fortis share in ABN
AMRO Holding NV have now been disconnected from Fortis’s banking
activities in Belgium and Luxembourg. Fortis Insurance Netherlands
NV and Fortis Corporate Insurance NV have likewise been separated
from Fortis’s insurance activities in Belgium and Luxembourg. For
savers, creditors and employees nothing further will change.
The Dutch-based banking and insurance activities of Fortis and
the Fortis share in ABN AMRO are now in the hands of the State of
the Netherlands. This provides a strong safeguard for all those
involved in these institutions and for the stability of the Dutch
financial system.
Under the current exceptional circumstances, the interests of
account holders and other parties concerned must be safeguarded.
The potential impact on the real economy constitutes another
important ground fortaking this decision. The takeover will
contribute to the continued proper functioning of vital financial
functions for the Dutch economy.
As a result of the transfer of shares to the State, all assets
and liabilities – savings accounts, the mortgage portfolio, loans
and clearing operations – have passed into public ownership. After
this step, the healthy and soundly capitalised financial
institutions will continue to be subject to DNB’s close prudential
supervision.
This measure is temporary: once the international financial
system has settled, the institutions will be privatised. As to the
operational management of the financial institutions acquired at
this moment no changes are being anticipated.
The Ministry of Finance and De Nederlandsche Bank will continue
to monitor the financial markets closely.
