ABN AMRO to Buy Societe Generale Private Banking NV
July 30 2018 - 12:30PM
Dow Jones News
By Pietro Lombardi
ABN AMRO Group NV (ABN.AE) has agreed to buy Societe Generale
Private Banking NV, Societe Generale SA's (GLE.FR) private banking
subsidiary in Belgium, the company said Monday.
The company didn't disclose financial details of the deal.
"By combining ABN AMRO's existing private banking activities in
Belgium with those of Societe Generale, ABN AMRO strengthens its
market position in Belgium and its position in the Eurozone as a
leading private bank," ABN AMRO said in a statement.
The transaction is subject to regulatory approval expected to be
completed by the first quarter of 2019.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
July 30, 2018 12:15 ET (16:15 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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