Dutch Ministry of Finance given deadline for sale of ABN AMRO assets
The Dutch Finance Ministry has been given a deadline of October 16th to find a buyer for selected ABN AMRO’s assets including factoring firm IFN Finance, Reuters has reported. As reported on Monday, the Dutch Government must sell some of ABN AMRO’s assets in order to comply with EU market competition regulations. With both the Dutch nationalised banks, ABN AMRO and Fortis, occupying a large part of the SME finance market, the Dutch government must sell assets such as IFN Finance to allow fair competition in the SME sector. It is thought that the Dutch Ministry of Finance could resume negotiations with Deutsche Bank, although their last negotiations with the German bank fell through in September, supposedly due to the Dutch government’s high demands. Related articles
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