ABN Amro case study Essay

Words: 1515
Pages: 7

Acquisition of ABN AMRO by the “Consortium”
Case Study

Transaction Overview
• Acquisition of ABN AMRO by a Consortium comprising of
RBS, Santander and Fortis declared unconditional on the 10th October 2007


Split of ABN AMRO Businesses

• Consortium consisting of RBS, Santander and Fortis on the
25th April 2007 made an initial competing offer to the just declared Barclays offer to acquire ABN AMRO

• BU Netherlands, BU Private Clients, BU Asset Management
• BU North America, BU Global Clients and wholesale clients in the Netherlands and LatAm (excl. Brazil)

– In which ABN AMRO shareholders would receive €30.40 in cash plus 0.844x ordinary shares in RBS for each existing ABN AMRO
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mortgage lending, consumer finance, mutual funds)
– Good platform from which to grow organically • Interbank and DMC (consumer finance in the Netherlands)
– Full integration into Santander Consumer
Finance, which is already present in 14
European countries including the

– Creates market leader with more than 10 million customers
– #1 in Benelux retail and commercial banking – Capitalising, as owner of the trademarks, on both ABN AMRO’s and Fortis’ brand in the Netherlands
• Extension of international wealth management growth engine
– 3rd largest European private bank
– A dedicated, broad and differentiated offering • Expansion of asset management growth platform – Top tier asset manager with more than
€300 Bn AUM
– Larger geographic footprint and enhanced offering to third-party distributors


Initial Brokers’