Bank of Scotland-led consortium and takeover target
AMRO has revealed the carve-up of the merged entity in what has been
described as the biggest-ever deal in the financial-services industry at euro72
billion (?35 billion).
In the proposed split of ABN between the consortium members, RBS takes its
wholesale business and Asian operations; Spain’s Santander gets its Italian and
Brazilian units; and Fortis, a Belgian-Dutch group, its Dutch retail-banking
The RBN-consortium made an unconditional offer for ABN AMRO after Barclays
withdrew its offer last week. Settlement of the RBS-consortium offers will take
place on 17 October.
Barclays’ offer for ABN AMRO was conditional on obtaining at least 80% of the
issued ordinary share capital of ABN AMRO by the closing date of 4 October,
which it failed to fulfill.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016