SNS Reaal restructuring effort focuses on private investors

AMSTERDAM Mon Jan 28, 2013 2:18am EST

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AMSTERDAM Jan 28 (Reuters) - Troubled Dutch bank and insurance group SNS Reaal said it was trying to involve private investors in restructuring its property finance division, which would include a significant share issue and subordinated debt transactions.

There was no certainty the restructuring plan which involved private investors was feasible, SNS Reaal said in a statement on Monday

SNS Reaal, which received 750 million euros ($1 billion) of state aid in 2008 during the height of the financial crisis, is expected to require a second state bailout because of problems at its property unit and is due to come up with a restructuring plan next month when it reports its earnings. ($1 = 0.7421 euros) (Reporting by Gilbert Kreijger; Editing by Hans-Juergen Peters)

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