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Delta Lloyd NV to Terminate Joint Venture with Friesland Bank and to Sell 51% in Joint Venture to Friesland Bank

Tuesday, 18 Sep 2012 01:30am EDT 

Delta Lloyd NV announced that the joint venture between the Company and Friesland Bank will be terminated in 2012 as a result of the takeover of Friesland Bank by Rabobank Netherlands. The Company and Rabobank Netherlands have reached an agreement in principle that Friesland Bank will buy back the Company's interest (51%) in the joint venture. Friesland Bank Assurantiean, including all employees, will once again become part of Friesland Bank. The Company retains its preferred supplier status for insurance at Rabobank. The termination of the joint venture is subject to the advice of the works council. 

Company Quote

-0.045 -0.24%
10 Jul 2014