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RBS Consortium wins the ABN Amro transaction
http://news.bbc.co.uk/1/hi/business/7033176.stm
A consortium led by the Royal Bank of Scotland has won the battle to buy the Dutch bank ABN Amro.
About 86% of ABN Amro’s shareholders have accepted a 71bn euro($98.5bn; £49bn) offer to clinch Europe’s biggest ever banking takeover.
The RBS consortium, which also includes Dutch bank Fortis and Spain’s Santander, is now expected to break up the Dutch lender.
Last week Barclays withdrew from the biding war for the bank.
Congratulations to the RBS Consortium team. What remains is a range of challenging business and IT projects to complete the merger as well as the break up of the different business lines amongst the interested parties, I wish them every success in this activity.
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