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CBA seeks ABN AMRO takeover

by Staff Reporter7 minute read
The Adviser

CBA today announced that it was in discussions with Royal Bank of Scotland to acquire the Australian arm of ABN AMRO.

The bank also advised that it had entered a period of exclusivity around negotiations and due diligence; this followed an announcement from NAB yesterday that it had withdrawn its process to acquire ABN AMRO.

CBA said the ABN AMRO Australian and New Zealand businesses would be complementary to its “already extensive institutional banking and markets business and would enhance the range of services that the bank offers in the financial markets areas”.

Published: 23-07-08

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