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Fortis completes acquisition of ABN AMRO Asset Management Canada.

Global Banking News-14 April 2008-Fortis completes acquisition of ABN AMRO Asset Management Canada(C)2008 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 14 April 2008(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

ABN AMRO Asset Management Canada Limited has announced that Dutch-Belgian banking group Fortis Bank SA/NV (FOR.BR) (AMS: FORB) (DUS: FORB) (OTC: FORSY) has acquired all the issued and outstanding shares of its parent company, ABN AMRO Asset Management Holding NV(AAAMH), a part of ABN Amro Holdings NV (NYSE: ABN).

ABN AMRO Asset Management Canada Limited is now part of the Fortis Investment Management Group, which subsequently acquired the same issued and outstanding shares of AAAMH.

The Canadian asset management company will continue to be run as a separate business and will continue to be the manager, distributor and trustee of the ABN AMRO Global Equity Exposure Fund, which has approximately CAD52m under management.

Last year a consortium, consisting of Royal Bank of Scotland Group (LSE: RBS) (NYSE: RBS-PP), Fortis and Banco Santander SA (SAN.MC) (NYSE: STD), had acquired all of the issued and outstanding shares of ABN AMRO Holding NV, which indirectly owned all of the issued and outstanding shares of AAAMH.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Apr 14, 2008
Words:225
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