Fortis, RBS, Santander sell ABN private equity assets

Mon Aug 11, 2008 11:30am EDT
 
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BRUSSELS, Aug 11 (Reuters) - Belgian-Dutch financial group Fortis said on Monday that together with Royal Bank of Scotland and Spain's Santander, it had sold a number of ABN AMRO private equity assets to a consortium led by Goldman Sachs (GS.N).

"The assets sold were in companies located in Scandinavia, Britain and the Netherlands," a Fortis spokeswoman said, declining to give any further details on the transaction.

Fortis (FOR.BR), Royal Bank of Scotland Group (RBS.L) and Banco Santander (SAN.MC) paid 70 billion euros in a joint bid for ABN then split the Dutch bank among themselves, but still own a number of its assets jointly.

Last month Fortis angered investors with a surprise 8.3 billion euro ($12.47 billion) funding plan to address solvency issues linked to the credit crisis and its purchase of parts of ABN AMRO for 24 billion euros.

Fortis is now worth just over 22 billion euros. (Reporting by Julien Ponthus, editing by Will Waterman)

 

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