ABN Amro To Sell Its Stake In Neuflize Vie, Its JV With AXA
May 17 (Reuters) -ABN Amro Bank NV ABNd.AS:
TO SELL ITS STAKE IN LIFE INSURANCE JOINT VENTURE NEUFLIZE VIE
NEUFLIZE VIE IS FRENCH INSURANCE JOINT VENTURE OWNED BY ABN AMRO (60%) AND AXA (40%)
BNP PARIBAS CARDIF INTENDS TO ACQUIRE ALL SHARES IN NEUFLIZE VIE FOR AN UNDISCLOSED AMOUNT
COMBINATION WILL CONSTITUTE AN UNDISPUTED LEADER IN HIGH-END LIFE INSURANCE IN FRANCE WITH ASSETS UNDER MANAGEMENT OF MORE THAN EUR 25 BILLION
BNP PARIBAS CARDIF AND NEUFLIZE OBC INTEND TO ENTER INTO A STRATEGIC PARTNERSHIP
TRANSACTION WILL MARGINALLY AFFECT ABN AMRO'S PROFITABILITY AND RWAS, RESULTING IN A MINOR POSITIVE IMPACT ON ABN AMRO'S CET1 CAPITAL RATIO
Source text: https://tinyurl.com/4876m2uv
Further company coverage: [ABNd.AS]
(Gdansk Newsroom)
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