AMSTERDAM: The deal will reduce the state’s holding acquired during the banking crisis, and the Irish government is likely to follow a similar process to cut taxpayers’ stake in AIB.
At ABN Amro, no timetable has yet been set for flotation of the publicly owned bank which was nationalised seven years ago, NL Financial Investments said in a statement.
“The final timetable will depend on the state of the financial markets, amongst other things,” it said.
The bank, rescued by the state in 2008, is expected to list 25pc of its shares in an IPO this year or in 2016 that will value it at around €15.6bn.
NLFI, which handles the Dutch state’s holdings in financial institutions nationalised in bailouts following the 2008 financial crisis, said that the two banks had been chosen for their expertise and on cost grounds.
It said the deal with the banks “comfortably” met its stipulation that they should earn no more than 1pc of the proceeds from the first tranche of the IPO.
The agency said it would now start selecting bookrunner and co-lead manager banks.
